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Germany Doesn’t Need to Take a Deutsche Bank Stake, CDU Says

  • Senior governing party officials signal it’s a non-starter
  • Injecting taxpayer funds isn’t justified, Meister says
The twin tower skyscraper headquarters of Deutsche Bank AG are reflected in the windows of a neighboring office block in Frankfurt, Germany, on Wednesday, July 25, 2018. Deutsche Bank vowed to maintain its position in fixed-income trading after recording its weakest second quarter in that business since the global financial crisis, as Chief Executive Officer Christian Sewing accelerates the lender’s turnaround effort.
Photographer: Alex Kraus/Bloomberg
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German Chancellor Angela Merkel’s ruling party wouldn’t back the government taking a stake in Deutsche Bank AG to strengthen the nation’s financial industry, senior members said.

“The argument for a ‘big bank’ can be discussed as a matter of economic policy, but it doesn’t justify the use of taxpayers’ money,” Michael Meister, a member of the Christian Democratic Union’s national leadership, said in an interview on Saturday.