Central Banking

Buba against foreign takeovers of German banks

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The Bundesbank spoke out against foreign takeovers of the country's biggest banks and said that Germany needs at least one big bank to protect its economic interests, a newspaper reported on Wednesday 24 March.

According to a report in the Financial Times Deutschland Bundesbank board member Edgar Meister said: "For an important economy like Germany it is an asset to have at least one big German bank."

He said that a strong German banking sector would protect future financing of the country's

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