DEUTSCHE DISASTER PLAN? Merkel ‘Preparing’ Emergency Bailout for Leading German Bank
- DEUTSCHE DISASTER PLAN? Merkel ‘Preparing’ Emergency Bailout for Leading German Bank
by LANA CLEMENTS, http://www.express.co.uk/
ANGELA Merkel’s government is preparing an emergency plan for Deutsche Bank should the lender need to be rescued amid a raft of expected lawsuits and fines, according to reports in German newspapers.
The bank’s chief executive John Cryan today said that state support “out of the question for us”. But high high-ranking officials in Berlin, Brussels and Frankfurt are working on a contingency plan, should the bank come to a point where it can’t raise needed funds from markets, according to Die Zeit. It comes after US authorities asked Deutsche to pay a $14billion fine (£10.5bn) over a mortgage scandal from the financial crisis.
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