Want a bank rescued? Don’t ask a German
Make a car? Sure. Win a Word Cup? Yup. Write a symphony? Without doubt. There are lots of things that you rather have a German doing than anyone else in the world. But there are also a few things you’d rather they didn’t. Right now, rescuing a bank is right at the top of the list. All this week, the financial markets have been gripped by the slow-motion car-crash of Deutsche Bank. An institution that was once the mightiest in Europe, and a by-word for financial stability, is now teetering on the edge of collapse. Its share price has halved this year, and today is hitting a fresh 30-year low.