Worlds apart: a public vs private bank debate

The existence of the Sparkassen and Landesbanken is derived from their public mission, but, when everything else is being privatized, why should banks be an exception.

Public view

“The existence of the Sparkassen and Landesbanken is derived from their public mission. Saving banks ensure the nationwide provision of financial services to the whole population, industry and commerce, especially small and medium-size companies. This service is in the interest of the public and therefore needs to be protected.” (Bernd Lüthje, secretary general, Association of German Public Banks, VÖB)

Private view

“It is difficult to argue in the 21st century when everything else has been privatized, that banking is an exceptional public service.

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