Chancellor Angela Merkel has ruled out any state assistance for Deutsche Bank AG. The German leader also declined to step into the bank’s legal imbroglio with the U.S. Justice Department related to $14 billion in sanctions.
The finances of Germany’s biggest lender are raising concern among German politicians. The damage can be seen in its share price. Last October, € 27. Back in 2007, € 100. Today, € 10.55.
The largest Bank in Europe is at high risk, but German government steps back. By doing so explicitly they make things worse. Is it German government or German politics speaking here? Anyway Deutsche Bank seems to be on its own now.