European Central Bank President Mario Draghi said Wednesday the bank’s low interest rate policies were not to blame for the problems that Deutsche Bank is facing.
Michael Kemmer, the head of Germany’s BdB banking association, earlier on Wednesday told Deutschlandfunk radio that the ECB’s low interest rate policy was partly responsible for the current problems that Deutsche Bank and Commerzbank are facing.
“No I don’t share this view,” Draghi told reporters when asked about Kemmer’s remarks on Deutsche Bank and whether the bank posed a systemic risk.
“If a bank represents a systemic threat for the euro zone, this cannot be because of low interest rates – it has to do with other reasons.”
Asked if the German government should rescue Deutsche Bank, Draghi said he did not comment on individual lenders.
Source: Reuters
