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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (80257)	3/7/2003 7:04:05 PM
From: Elsewhere	Respond to of 281500

Hello Jochen, how serious is the banking problem perceived to be in the country? The situation is difficult but not as serious as in Japan. The main problem is the high costs - too many branches and too many employees. Major cost cutting initiatives are on the way. The big banks will be ok (like Deutsche Bank), smaller ones will be acquired by bigger players (e. g. Commerzbank). What do you see evolving? The recovery will considerably depend on the economy. For the next 2-3 years I don't see any growth drivers which means that the road will remain bumpy for that period. Edit: commentaries like the following one are not correct, if there is any interest I can elaborate. Banks Are Pushing Germany to the Brink By Jon D. Markman, 03/06/2003 06:56 AM EST thestreet.com