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Germany’s like a ketchup bottle |
The German banking system is in trouble. Private commercial banks say their profitability and capital generation will improve after public-sector rivals lose state support in 2005, by EU order. That may be wishful thinking. Close analysis suggests that several of the banks supported by Germany’s states, the Landesbanken, are far cleverer and more dangerous than private bankers often assume.
True, they need to cut costs and improve profitability to match the increase in their funding costs.
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