The German company Scholz does not see the threat of a new financial crisis – #German #company #Scholz #threat #financial #crisis
FRANKFURT, March 16 (Reuters) – German Chancellor Olaf Scholz has sought to allay fears that the collapse of Silicon Valley Bank and problems at Credit Suisse could trigger a new financial crisis bank system and a stronger economy ensures that deposits are safe, he said.
“I see no risk,” Scholz told German business newspaper Handelsblatt. 20“The monetary system is no longer as fragile as it was before the financial crisis,” referring to events including the collapse of Lehman Brothers in 2008.
His announcements are 54 from the Swiss central bank to boost Credit Suisse’s liquidity and restore investor confidence billion It comes after borrowing up to $100 million and the collapse of Silicon Valley Bank earlier this month.
“German depositors’ deposits are safe. Alone bank not only because of the higher stability of the system and stricter regulation, but also because of our economic strength,” Scholz quoted.
“And we see that USAin the United Kingdom, and most recently in Switzerland, officials have acted quickly and decisively.”
Reporting by Christoph Steitz Editing by Mark Potter and Angus MacSwan
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2023-03-16 22:55:05
Source – reuters
Translation“24 HOURS”