Savings banks and Volksbanks recently thought they were safe, that their system of mutual liability would last at the national level and that the European deposit protection scheme, which they stubbornly fought against, would probably never become a reality. After all, at their Savings Bank Day last year, almost half of the Federal Cabinet promised to fight against further mutualization of risks in Brussels and to defend the national security systems – including the Chancellor.
EU committee pushes forward common deposit insurance – Economy
