Tags: EU | Germany | Bank | Fund

German Banks Back New Stabilization Fund

Monday, 15 Mar 2010 11:18 AM


A group representing German banks says it would support a privately-funded but state-controlled stabilization fund that could intervene in the future to rescue or wind up troubled lenders.

The Association of German Banks said Monday that it could be developed from the government-financed stabilization fund that was set up at the height of the financial crisis.

Its president, Andreas Schmitz, says that "in principle, all companies in the financial sector should be drawn into financing the German stabilization fund."

He does not specify how large the fund should be. Schmitz's association includes some 220 private-sector banks, including Deutsche Bank AG, Commerzbank AG and Postbank AG.

Schmitz says the group favors a national rather than European or wider fund.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved