Many banks will die. Not in Germany.
Local politicians swerved a common sense solution last week, opting for a local bail-out of BayernLB instead of watching the Swabians next door swallow it up. The seemingly inevitable endgame for the landesbanks was postponed once more.
Back in the days when public ownership was out of fashion in the UK but the Labour Party still clung to it, bringing life-threatening disaster after life threatening-disaster at the polls, an ever-contrary Margaret Thatcher declared that, despite appearances, the Labour Party would never die.
Despite all the
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