MUNICH, Germany (AFP) - The lack of financial fire-power felt by Germany's top clubs compared to their European neighbours is no excuse for failure in the Champions League, insists Bayern Munich coach Jurgen Klinsmann.

"I do not accept the argument about the lack of finances amongst our clubs compared to Europe's top clubs," Klinsmann told Sunday's edition of the Suddeutsche Zeitung.

"The Top 15 clubs are all equipped with good international players and in the long-term, it is more important to have a good, hard-working team ethic than a hundred transfers."

Klinsmann's opinion directly contradicts the sentiments of Bayern chief executive Karl-Heinz Rummenigge.

The former striker painted a bleak future for Germany clubs in Europe after the on-going wrangle here concerning the amount of money Bundesliga clubs will get for the screening of live football.

Rummenigge deplored the situation in Germany where the Federal Cartel Office has ruled the current television contract to broadcast live Bundesliga games is a monopoly and must be re-negotiated - which could cost Germany's clubs millions of euros in lost revenue.

But Klinsmann says Bayern are not in the "second-tier" of European clubs and have to be confident of their chances in the Champions League this season.

"Still so many billionaires can come into the game, whether they are from Russia or America," he said.

"If I can work with a top team, we can do the same at Bayern as if we had 50 million euros to spend on players, given enough chances this team will develop.

"My job is to improve my players in such a way that we can compete against the financially strong clubs such as Chelsea or Milan."

The last time Bayern won the Champions League was in 2001 and Klinsmann is determined to bring further success.

The defending Bundesliga champions begin the defence of their league title on August 15 against Hamburg.