Germany's Merkel Reportedly Rules Out Help for Deutsche Bank
If Deutsche Bank was looking for help with paying its $14 billion fine, it will have to go somewhere else besides German Chancellor Angela Merkel's office.
Deutsche Bank (DB) - Get Report shares were lower Monday after a German news magazine reported Chancellor Angela Merkel was not prepared to intervene in the lender's dispute with the U.S. Department of Justice. Merkel reportedly made her reluctance clear in a confidential meeting with CEO John Cryan this summer. She has also ruled out any financial help for the bank in the 2017 election year. The Justice Department is seeking $14 billion for alleged mortgage securitization abuses during the financial crisis. Deutsche Bank said today it had no need for the German government's help.
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