Sunday, October 2, 2016

Sigmar Gabriel: SPD boss calls Deutsche Bank irresponsible – TIME ONLINE

at the beginning of his visit in Iran, Vice-Chancellor Sigmar Gabriel (SPD). “I don’t know if I should laugh or cry, that the Bank, which has made the speculation gains to the business model, explained-now to the victims,” Gabriel said on the flight to Tehran. He was referring to allegations from the Deutsche Bank, the company was the victim of speculators.

The Federal Minister for economic Affairs looks at the reasons for the difficult situation of the largest German Bank Management. “The scenario is that thousands of people will lose their jobs. You now carry the responsibility for the madness that was operated by irresponsible managers,” said Gabriel. On the question of possible state financial help, he said, his concern applies to the loss of Jobs, so much the institution itself. “I’m Worried about the people who are employed at Deutsche Bank,” said Gabriel.

The Deutsche Bank was due to a legal dispute in the United States under strong pressure. The U.S. Department of justice requested $ 14 billion (€12.5 billion) due to transactions with rotten mortgage-backed securities, the Bank has set aside for legal disputes but only around 5.5 billion euros. The news of the US demand triggered speculation about possible state aid, which were rejected by both the Bank as well as by the Federal government.

Under the impact of the billions of demand, the share price of the company fell on Friday, briefly for the first Time ever under the price of ten euros. Later the price rose again as it became known, that the penalty payment is likely to be significantly lower. The sum is to be set to 5.4 billion Dollar, according to the news Agency AFP learned from the matter in familiar circles.


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