The multi-billion-dollar fine recently imposed by the US government on Germany’s Deutsche Bank has done little to improve confidence in the EU. What the scandal has done is exposed a last-resort option – a kind of “Hail Mary pass,” in American football terms – that could potentially save the European project.
NEW YORK – The multi-billion-dollar fine that the US government recently sought to impose on Germany’s Deutsche Bank for mis-selling mortgage securities in the United States has done little to improve confidence in the European Union, which remains plagued by slow economic growth, high unemployment, immigration challenges, and mounting uncertainty. What the Deutsche Bank scandal has done is shine a light on a last-resort option – a kind of “Hail Mary pass,” in American football terms – that could potentially save the European project.
NEW YORK – The multi-billion-dollar fine that the US government recently sought to impose on Germany’s Deutsche Bank for mis-selling mortgage securities in the United States has done little to improve confidence in the European Union, which remains plagued by slow economic growth, high unemployment, immigration challenges, and mounting uncertainty. What the Deutsche Bank scandal has done is shine a light on a last-resort option – a kind of “Hail Mary pass,” in American football terms – that could potentially save the European project.