Private sector banks have agreed to contribute â¬300m ($440m) to the state-organised bail-out of German lender IKB Deutsche Industriebank, Peer Steinbrück, the finance minister told parliament in Berlin this morning.
The German government, which on Wednesday announced a â¬1.5bn rescue package for the troubled bank, intends to contribute â¬1bn of the full amount and has been trying to secure the backing of private sector banks for the remainder.
