A few years ago, the state of Lower Saxony and the savings banks had to put EUR 3.6 billion into Nord-LB. Hopes were high that the state-owned bank would prosper. But now the owners are arguing.
Lower Saxony’s state father Stephan Weil (SPD) is not to be envied: his car company Volkswagen is being left behind by the competition in China, at the federal level his party is giving a rather weak picture, and now the Prime Minister has problems with the Landesbank Nord-LB again, from which he probably hoped to have overcome it.