Scale of subprime unknowable until 2008: Weber

Axel Weber, the president of the Bundesbank, said on Tuesday that the extent of the subprime crisis will remain unknown until at least the end of 2007.

In an interview with Borsen-Zeitung, a newspaper, Weber said that only when the full-year results of the big US banks, published in January, and those of their German counterparts, out in February, were known, would the impact of the subprime crisis be tangible.

The crisis, which led to KfW, a German state bank, bailing out IKB Deutsche Indust