Anger against the ECB is growing – companies

FRANKFURT. German banks are experiencing a deterioration in the monetary policy of the European Central Bank (ECB). "The ECB must put an end to its monetary excesses – faster and more systematically than previously announced," said Hans-Walter Peters, president of the Association of German Banks (BdB) on Monday. from the Frankfurt Board of Directors.

The program for the purchase of sovereign and public bonds of the euro area must expire at the end of each year. Peters also called for a turnaround in interest rates: "The negative interest period has now become an anachronism – an anachronism that has not only cost savers and investors in recent years, but also to banks." The ECB has announced that it will stop the bond buying program at the end of the year – but ECB President Mario Draghi has not yet taken of decision.

The Board of Directors of the BdB decided that HSH Nordbank could join the deposit guarantee scheme and therefore the private bank responsibility network. It should be ready in early 2022. Thus, the sale of the institution to financial investors Cerberus and JC The flowers and other businesses will be completed by the end of the year for a billion dollars. Euros approx. The Federated States of Hamburg and Schleswig-Holstein had to sell HSH Nordbank under pressure from the European Commission for state aid. The institute had been bankrupted by the financial crisis and lazy ship borrowings and had saved billions of taxes from bankruptcy.