Germany's 3,000 tons of gold reserves will not be used to help debt-hobbled euro zone nations recover, a consensus of German leaders, officials and media commentators said, according to Spiegel.
Though the nation hosts the euro region's largest economy, Germany will not use its gold reserves for belieaguered nations. Neither will it disclose where it stores its gold reserves. Claims on those reserves reared last week in France during the Group of 20 meetings when some officials suggested the reserves should be leveraged to enhance the European Financial Stability Facility. The EFSF was designed to aid the banks and public finance systems of nations suffering from the sovereign debt scourge.
A spokesman for German Chancellor Angela Merkel, Economy Minister Philipp Rösler, the Bundesbank and many of the nation's media figures agreed that Germany's gold is Germany's gold.
Paris, London and Washington leaned on the European nation to support the EFSF with its reserves, the publication states
Bloomberg reports one financially decrepit nation, Greece, has tapped a new prime minister to fill the vacancy created by the resignation of Prime Minister George Papandreou. Lucas Papademos, former head of the central bank, is next in line.
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