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Bloomberg

Merz Signals Germany Won't Compromise on Bank Deposit Protection

Chancellor Friedrich Merz signaled he won't give up Germany's opposition to joint European Union deposit insurance, a scheme large banks view as key to forging closer financial ties in the bloc. 'Let me make this very clear: we've discussed deposit guarantee systems in Europe long enough,' Merz said Thursday in a speech at a banking forum in Berlin. 'And there's absolutely no reason to pool functioning liability systems at the member-state level within the EU.'