Germany drops objections to Basel II after SME solution


BERLIN -- Germany lifted its objections to the Basel II bank accord in early July, welcoming a compromise on lending to small businesses that would be discussed by global banking regulators at a mid-July meeting.

German chancellor Gerhard Schröder told a news conference in Berlin that Germany’s aim of preventing the Basel II bank capital adequacy accord leading to more expensive loans for its small and medium-sized business enterprises (SMEs) had been achieved.

Schröder, who faces elections in

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