The fact of Germany and France's much greater expenditure on state aid than the UK, and the existence of Germany's profusion of state banks - the Landesbanken
and Sparkassen - should surely allow Labour's policymakers to sleep at night, as well as encouraging Mr Corbyn not to tell porkies.
The rating actions have been taken in conjunction with Fitch's periodic review of three Landesbanken
based in southern Germany.
" are regional state-run banks that boast annual investment budgets in the hundreds of millions.
With additional lavish bad bank arrangements, such as Hypo Real Estate's transfer of all Greek exposure at par to FMS Wertmanagement, a bad bank set up by the federal government, the government expanded the Landesbanken
investor bailouts to investors in private banks.
are regional banks which give the Sparkassen access to some investment and wholesale banking services.
The savings bank sector consists of primary savings banks, the regional Landesbanken
and the Deka Bank.
Among the Landesbanken
Bayerische Landesbank (BayernLB 'bb+') is the most affected with EUR2.35bn unsecured (unguaranteed) loans at end-2014.
concentration in 2015 of the remaining Landesbanken
Global Banking News-September 18, 2014--ECB to stress test Landesbanken
The German Sparkassen and Landesbanken
are one of the largest banking groups in the world and have over 15,000 branch offices throughout Germany.
Wales should look toward the German model of regional banking, to create local banks like the Landesbanken