Deutsche Bank: Europe needs not only capital, but reliable!
Capital injection in the private sector is not sufficient to solv
e the financial problems of Europe or to restore investor confidence, said Josef Ackermann, head of Germany’s largest bank, Deutsche Bank. “Capital in the private placement is not enough, because people will continue to put a lot of questions on debt sustainability in Greece, or cntaminarea other countries, including Italy and Spain,” said Plateaus that CNBC.
Ackermann said that he met with concern by many investors who are debt situation in Greece and want to be sure that this crisis will not affect Greek and other nations.
In his opinion, the situation in Greece is very different from that in Ireland, Portugal, Spain and Italy.
“We need to assure the world that case of Greece was an exception and as with other countries, we are committed to debt service. Greece should be seen in a different context “, the CEO of Deutsche Bank noted.
It also says keep Greece in the European Union.
However, Ackermann long opposed to capital growth in European banks, noting that banks would face a competitive disadvantage.
In addition, it expects more bank consolidation in Europe.
“We need a united Europe that can compete with the U.S., China and other countries important .
Therefore, we need larger banks to compete with U.S. banks, Chinese banks but also emerging economies.
But before that we have to take away from us incertituinile regulatory, fiscal or sovereign datoiilor Risks.
We need it very bold moves in Europe and we are approaching a cinvins comprehensive pahet to be implemented in the coming years, “he stressed.
Ackermann stressed that Deutsche Bank is a strong banking institution has no capital problems.
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