‘Deutsche Bank faces collapse unless Merkel government intervenes’
DEUTSCHE Bank is on course for a spectacular collapse, unless the Angela Merkel’s government launches a significant intervention, a German strategist has warned.
By LANA CLEMENTS
Express.co.uk
Thu, Sep 29, 2016
In a scathing critique of Germany’s biggest lender, Stefan Müller, chief executive of research company DGAW, told CNBC: “Deutsche Bank doesn’t realise that something serious needs to happen.
He also said that Deutsche’s chief executive John Cryan showed he clearly “has no idea how to survive”.
It comes as the troubled lender has shaken markets to their core this week.
Investors are worried the bank can’t make enough profits amid low interest rates and the stagnating eurozone economy, when it also faces billions of pounds worth of legal fines and litigation costs.
And markets lost their nerve when the German government said it would not be willing to step into rescue any of the country’s banks, should they need it.
Share prices across European banks fell as Deutsche’s stock plumbed record lows at the start of the week.
The sell-off was finally stemmed by a report that German policymakers were in fact making a contingency plan for Deutsche in an emergency situation.
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