German FinMin Schaeuble: Volatility in Banking sector is 'Slightly Exaggerated'

Germany’s finance minister Schaeuble was on the wires playing down concerns surrounding the health of the banking sector in Europe.

Schaeuble said the volatility in the banking sector is 'Slightly Exaggerated'. The equity markets across Europe have taken a beating today and in the past few days due to the slide in banking shares.

Big names like France’s Societe Generale and Germany’s Deutsche Bank were down more than 5% earlier today.

On Greece, Schaeuble said the markets are already nervous about Greece.