Subprime storm rips out old Landesbank order
Perhaps more so than in any other European market, the aftermath of the subprime crisis exposed with brutal clarity many of the shortcomings of the German banking industry. Philip Moore investigates what the Landesbanks are doing to protect themselves and build for a stronger and more profitable future.
It is a paradox that in some respects, the recent crisis that percolated throughout the global financial system was just what the doctor ordered for Germanys banking industry.
Conventional wisdom has always held that Germany is over-banked; and that the three-pillar system and political interference that characterises its banking
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