Germany resists demands to make gold reserves into euro-collateral

Germany has rejected demands by France, Britain and the US to allow national gold reserves to be put as collateral for the eurozone bailout fund.

"German gold reserves must remain off limits," German economy minister Philip Roessler told ARD radio on Monday morning.

Both the Welt am Sonntag and the Frankfurter Allgemeine Sonntagszeitung reported a day before that Paris, London and Washington had pressed German chancellor Angela Merkel at a G20 summit in Cannes on Friday to allow ...