At the banking congress: ECB President Christine Lagarde.
Image: Bloomberg
The capital markets union is intended to save the restructuring of the economy: ECB President Lagarde invokes the spirit of America from the 19th century at the “European Banking Congress”. What do you hear about interest rates?
WHow do you manage to achieve the green transformation of the economy that is so important for climate protection in a world of multiple crises? “Many people are tired or even frustrated and angry,” warned Commerzbank boss Manfred Knof on Friday at the 33rd Frankfurt European Banking Congress in Frankfurt’s Alte Oper. Corona, the Ukraine war, inflation and now the war between Israel and Hamas – the crises never end. Most recently, the Federal Constitutional Court’s decision on Wednesday threw all of Germany’s plans for climate protection overboard, said Deutsche Bank boss Christian Sewing: “This also has an impact on the whole of Europe.”
All of this could only mean one thing for the banks, said Commerzbank boss Knof: the banking world needs a new relationship to risk. Typically, banks sought to identify, analyze and then minimize risks. That no longer works in this world, many risk models fail. Now it’s important to take risks in a targeted manner. But bankers needed one thing above all: courage.
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