Germany’s Toncar: I don't see an immediate risk to financial stability

German Deputy Finance Minister Florian Toncar is crossing the wires, via Reuters, offering some comforting remarks on the country’s financial market conditions.

Key quotes

I don't see an immediate risk to financial stability.

We need banks that are competitive, stable and profitable.

We need more cautious fiscal policy to support ECB moves.

Market reaction

As of writing, EUR/USD is keeping the higher ground intact at around 1.0975, up 0.18% on the day.