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    Deutsche Bank head calls for European financial safety net

    AFP
    01.10.2008 - 15:43 | Son Güncelleme:

    Europe should prepare a financial markets' safety net similar to one being cobbled together in the United States, the head of the biggest German bank, Deutsche Bank, said on Wednesday.

    "If the United States has a rescue plan, Europe should be ready to offer similar solutions" in the event of an emergency, Dow Jones Newswires quoted Josef Ackermann as saying here.

     

    Private banks and governments should be able to respond to "systemic risks" to financial markets, the German banker said.

     

    Some economists have warned that leading European banks have high leverage ratios of total assets to shareholders equity, which in the event of trouble could mean they would need help similar to that extended to banks in the United States, Iceland, Ireland and the Benelux countries.

     

    Owing to the size of some banks, cross-border efforts have already been needed to come up with bailout plans for banks that operate in Belgium, France, Luxembourg and the Netherlands.

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