, Columnist
Deutsche Bank's Pain Is Germany's Too
A negotiating tactic could backfire for the government.
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Berlin is trying to distance itself from Deutsche Bank and the threat of a $14 billion U.S. fine that would likely force the bank to raise capital.
This makes sense politically ahead of an election year. It also, effectively, calls the U.S. authorities' bluff: if the fine is too big, German taxpayers won't step in to help.