US fine for Deutsche Bank will DESTROY EU economy stability, warns Eurozone finance chief

GLOBAL finance leaders issued a fresh warning on economic stability for the EU today, slamming the huge U.S. fine for Deutsche Bank as a mass destabilisation of Germany’s largest bank.

Jeroen Dijsselbloem, the chairman of euro zone finance ministers, said that the U.S. Department of Justice’s demand that Deutsche Bank pay $14 billion for its role in the sub-prime mortgage crisis is too big and will undermine financial stability.

“Let’s hope it is an opening bid,” Dijsselbloem said on the sidelines of the International Monetary Fund and World Bank annual meetings in Washington. “These kinds of fines are completely oversized, and they are damaging to financial stability.” Continue reading