Dr Oliver Hartwich on ABC Radio: Shades of global financial crisis as Deutsche Bank buckles under huge fine
Dr Oliver Hartwich
30 September, 2016
There are ominous rumblings of another European banking crisis this evening.
Germany's biggest commercial bank, Deutsche Bank, is being asked to stump up $18 billion to US authorities for dodgy dealings in the lead up to the global financial crisis.
The bank says the fine is too steep, but others in the marketplace say the truth is that it can't actually afford to pay it.
It's become an enormous political mess too.
Commentators say Angela Merkel's leadership now rests on the ability of the bank to weather this latest financial storm.
David Taylor reports.
FEATURED:
Brett Le Mesurier, Velocity Trade banking analyst
Oliver Hartwich, New Zealand Initiative economist