BERLIN Oct 4 Germany's financial system is
stable and the troubles at Deutsche Bank are not
comparable to those that afflicted Lehman Brothers in 2008, the
head of Germany's trade and wholesale association said on
"I'm firmly convinced that the financial system is very
stable," Anton Boerner said during a news conference, adding
that comparisons to the bankrupt U.S. Bank Lehman Brothers
should not be made.
"If this was to be expected, we would see the shares at a
totally different level," he added.
Germany's biggest bank Deutsche has seen its value halve
this year amid worries it will have to raise fresh capital to
pay for a string of heavy fines, including one of up to $14
billion from the U.S.
Lehman Brothers was the fourth-largest investment bank in
the U.S. before filing for bankruptcy in 2008, the largest in
the country's history, and it was the biggest victim of the U.S.
subprime mortgage crisis that shook global financial markets.
(Reporting by Rene Wagner; Writing by Michael Nienaber; Editing
by Madeline Chambers)