France and Germany have shown the negative effects on there economy at present.
Europe‘s two largest economies showed signs of a slowdown on Friday, as French business confidence remained close to a two year low and Germany warned that growth would be “noticeably weaker” over the next six months.
n France, business confidence remained close to a two-year low in October, as problems with the country’s auto industry continued to weigh on sentiment.
Sentiment among manufacturing executives remained unchanged at 92 last month, against a long-run average of 100, the Bank of France stated
French carmaker Peugeot announced it would be cutting 8,000 jobs and closing its Aulnay plant near Paris in 2014.
Deutsche Bank will never need to be bailed out, says co-chief
Deutsche Bank, on a international regulator’s list of four banks that would pose the greatest risk to the global financial system if they collapsed, will never need to be bailed out, its co-chief executive said.
“We are not dangerous and we never were because we didn’t need to ask the state for help and we will not do that in future either,” Juergen Fitschen said at an economic conference in Hamburg, Reuters reported.
He was reacting to the Financial Stability Board‘s decision last week to place Deutsche, along with three other banks, in its highest risk category, requiring them to hold extra capital to absorb potential losses.
Deutsche had declined to comment on the move by regulators last week, but on Thursday Fitschen expressed his annoyance at subsequent media reports that branded Germany’s biggest lender the world’s most dangerous bank.
