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.
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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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