Scholz: no bad bank for Deutschmerz, NordLB rescue not state aid
Olaf Scholz, finance minister and vice-chancellor for Germany, said that there was 'no debate' about the creation of a bad bank in a prospective merger between Deutsche Bank and Commerzbank. He also does not believe that the recapitalisation of NordLB by the association of German savings banks would contravene EU state aid rules.
Scholz was speaking in London on Friday. He batted off speculation about the decision over a merger between Deutsche Bank and Commerzbank taking place before the European Parliament elections in May, the idea being that this would facilitate discussions with the European Union.
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