Bloomberg News

Ackermann Calls for European Bank Rescue Fund, Spiegel Reports

May 06, 2012

Deutsche Bank AG (DBK) Chief Executive Officer Josef Ackermann said he supports the creation of a European bank rescue fund, Der Spiegel reported, citing an interview.

Such a vehicle is needed now more than ever to stabilize banking systems, restructure international lenders if necessary and avoid the distortion of competition, the Hamburg-based magazine cited the CEO as saying.

Ackermann said the “re-nationalization” of European banking markets is a matter of concern, Spiegel reported in an e-mailed summary of an article.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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