Angela Merkel ‘can’t afford’ to bailout Deutsche Bank: Chancellor warned on rescue package
EVEN if Angela Merkel wanted to bailout beleaguered Deutsche Bank she wouldn’t be able to afford it
Express.co.uk
Sat, Oct 1, 2016
The German Chancellor cannot afford to bail out Deutsche Bank given the hard line Berlin has taken against state aid in other European nations and the risk of a political backlash at home, according to reports.
The government denied claims earlier this week that it was working on a rescue plan for Germany’s biggest bank, as its shares went into a tailspin fuelled by a demand for up to $14 billion from U.S. authorities for misselling mortgage-backed securities before the financial crisis.
Germany, which has insisted Italy and others accept tough conditions in tackling their problem lenders, can ill afford to be seen to go soft on its flagship bank, German newspaper Frankfurter Allgemeine wrote.
“Of course Chancellor Merkel doesn’t want to give Deutsche Bank any state aid,” it wrote in a front-page editorial.
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