BERLIN, Oct. 10 (Xinhua) -- The German government ruled out the possibility of nationalizing German banks at present, a Finance Ministry spokesman said Friday.
"Until now the German government has no such considerations or plans in this direction," spokesman Torsten Albig said at a regular press briefing.
Albig also said Germany will not follow Britain's ways of saving its banking system, as "each EU country must act according to its own situation."
The German government was watching closely the measures already taken and will assess whether further moves were necessary, in coordination with finance ministers from the world's biggest economies, Albig said.
The benchmark DAX Index lost 473.57, or 9.7 percent, to 4,413. 43 on Friday in Frankfurt, the steepest drop since 1989.
The British government announced a 50 billion pound (87.5 billion U.S. dollar) plan on Wednesday to partly nationalize its major banks. German deputy finance minister Joerg Asmussen welcomed the move.
German Chancellor Angela Merkel said late Thursday that her government will consider any action necessary to rescue troubled banks. Asked whether the government is prepared to take public stakes in German banks similar to the British government's action, Merkel said: "No possibility is completely ruled out."
