The President of Deutsche Bank Supported a Bailout Fund for European Banks
The chairman of Deutsche Bank, Josef Ackermann, he supported the implementation of a rescue fund to clean up European banks in critical condition, which can be activated without the involvement of national governments
The creation of a fund like this would be “more desirable than ever, for the rehabilitation and stabilization of the banking system, also for the restructuring of large banks beyond national borders,” said Ackermann, told the weekly “Der Spiegel “.
This would ensure the functioning of the financial system and avoid “tears of national regulations,” the Swiss banker, also president of the Institute of International Finance (IIF).
Ackermann and impact in the current discussion in the eurozone about the possibility of opening the way for direct aid to the banking bailout funds from Europe-the European Financial Stability (EFSF) and the European Stability Mechanism (MEDE) -.
Both the government of Angela Merkel as the Bundesbank opposes this formula, while the self-managing director of the International Monetary Fund (IMF), Christine Lagarde, recently expressed his support for this initiative.
Category: Business News
