Government spokesman Steven Hembestraight today dismissed suggestions that the current situation in the banking sector is comparable to the financial crisis of 2008-2009.
“A lot of regulatory action was taken after the banking crisis, so today’s situation cannot be compared to the crisis of that time,” Mr. Hebstreit said, referring to Chancellor Olaf Soltz’s claims that deposits were safe.
In addition, he stressed, Germany is in a strong economic situation, and therefore “there is limited reason for concern.”
In his statement to Handelsblatt today, Chancellor Olaf Solz emphasizes that he is not afraid of another financial crisis. “The monetary system is no longer as fragile as it was before the financial crisis,” explains the German chancellor.
Source: RES-IPE
Source: Kathimerini
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