“Europe is at a crossroads”, said Andreas Schmitz, President of the Association of German Banks and Chairman of the Management Board of HSBC Trinkaus & Burkhardt AG, at a press conference held today following the meeting of the Association’s Board of Directors in Frankfurt. The debt crisis could no longer simply be resolved [...]
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Posted on November 22nd, 2011
Posted on October 3rd, 2011
The outbreak of the European debt crisis proved critics right who from the very beginning called the single currency a “fair-weather project” and predicted that the first serious crisis would see its demise. Many will consider this too harsh a judgement, since the crisis has yet to affect either the internal or external [...] Posted on April 5th, 2011
The financial crisis has shown just how important a stable global financial system is. The failure of Lehman Brothers in September 2008 made clear that the financial distress of a single market participant can cause even global turmoil. This is why the state is forced to weigh up whether letting an institution fail [...] Posted on October 28th, 2010
The Association of German Banks is highly concerned that, as a result of measures decided recently by German policymakers, often on a go-it-alone-basis, German banks will no longer be competitive on the international stage. The German banking industry has reached its limits. On top of international capital requirements, German banks face a bank levy, the new [...] Posted on April 24th, 2010
Banks, in their capacity as financial intermediaries, fulfil tasks which are key to maintaining the basic functions of an economy. This distinguishes them from other businesses. Notwithstanding this point, the fundamental principle of a market economy that the failure of a business will ultimately lead to its departure from the market – if [...] 2 pages
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