Germany’s Scholz says Europe’s banking system is stable and Deutsche profitable

Record ID: 1717630

  • Title: Germany’s Scholz says Europe’s banking system is stable and Deutsche profitable
  • Date: 24th March 2023
  • Summary: BRUSSELS, BELGIUM (MARCH 24, 2023) (REUTERS) CAMERA CREW
  • Embargoed: 7th April 2023 14:42
  • Keywords: Brussels Deutsche Bank EU summit German Chancellor Olaf Scholz banking system
  • Location: BRUSSELS, BELGIUM
  • City: BRUSSELS, BELGIUM
  • Country: Germany
  • Topics: Company News Markets,Europe,Economic Events
  • Reuters ID: LVA005002124032023RP1
  • Aspect Ratio: 16:9
  • Story Text: Europe’s banking system is stable and Germany’s largest bank Deutsche is profitable, German Chancellor Olaf Scholz said in Brussels on Friday (March 24) following an EU summit.
    “It paid off that we introduced very strict rules in recent years,” said Scholz, adding “Deutsche Bank has thoroughly reorganised and modernised its business model and is a very profitable bank. There is no reason for concern whatsoever.”
    Asked on the dispute between Germany and the European Commission on combustion engines, a smiling Scholz told the reporter “I know that journalism is also an entertainment business and that therefore, you will find it totally stupid that we simply agree but that will happen, and pretty soon so.”
    Around the same time, his transport minister Volker Wissing told reporters there were still questions to clarify between Germany and the Commission regarding permitting cars using synthetic fuels beyond the EU combustion engine car phase-out in 2035.
    In a letter to the European Commission seen by Reuters on Friday, Germany welcomed a draft EU proposal to resolve the dispute, but called for clearer assurances from Brussels.
    (Production: Clement Rossignol, Bart Biesemans, Michele Sani)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2023. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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