Merkel’s Deputy Criticizes Deutsche Bank for ‘Speculation’ Model
- ‘Don’t know whether to laugh or be angry,” SPD’s Gabriel says
- German vice chancellor voices concern about threat to jobs
Sigmar Gabriel
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German Vice Chancellor Sigmar Gabriel criticized Deutsche Bank for building its business on “speculation” and said he’s concerned about job losses at the nation’s biggest lender.
Gabriel, head of the junior party in German Chancellor Angela Merkel’s governing coalition, suggested it’s ironic that Chief Executive Officer John Cryan, in a letter to staff, blamed market forces and “heavy speculation” for buffeting Deutsche Bank’s shares.