Germany’s Bundesbank delivered an ultimatum to other major banking powers including the U.S. that it will walk away from talks on revamping global capital rules unless its key demands are met.
Andreas Dombret, a member of the Bundesbank Executive Board, said on Tuesday that Germany won’t accept a deal “at any price.” He laid out a series of demands, including two “essential areas of action” for talks later this month in the Basel Committee on Banking Supervision, the international standard-setter. Both will probably be met with skepticism in Washington.
The Bloomberg article is available here.
Andreas Dombret’s original speech is available here.
