German finance minister expects agreement on principles of ESM bank recapitalization

LUXEMBOURG (Reuters) - German Finance Minister Wolfgang Schaeuble said on Thursday he expected an agreement to be reached at a meeting in Luxembourg on the principles of bank recapitalisation via the euro zone's permanent bailout mechanism but details remained open.

"Today, in the best case scenario, we can agree on the basic principles of ESM (European Stability Mechanism) bank recapitalisation," he said, adding that elements would remain to be decided.

(Reporting by Ilona Wissenbach and John O'Donnell; Writing by Michelle Martin)