Germany proposes new euro-zone stability fund -paper

BERLIN Dec 23 (Reuters) - Germany is proposing to create a "European Stability and Growth Investment Fund" as a largely independent institution next to the European Central Bank to backstop ailing euro-zone members, a German newspaper reported.

The fund would provide loans against collateral in the form of gold reserves or equity in state-owned companies, the Sueddeutsche Zeitung wrote on Thursday without citing sources.

In a position paper to be presented to European allies at the next meeting of euro-zone finance ministers in mid-January, Germany will affirm its "national interest" rests in maintaining the single currency.

The euro, however, must "orientate itself on German stability interests" as a "concession to Germany, as the largest economy in the euro zone, serving as an anchor of stability."

According to the Sueddeutsche, the new fund would in principle have access to "unlimited refinancing" in order to secure the health of the single currency. Euro-zone members would provide financial guarantees to the fund proportionate to their size.

(Reporting by Christiaan Hetzner; editing by Kazunori Takada)