Germany's banks huge threat to EU, warns ex-chancellor Lord Lamont
The bloc's biggest economy is not immune to the problems related to its lenders, while Italy's financial sector is also in a dire circumstances, said Lord Lamont.
He said: “The biggest threat to Europe is the banking crisis.
“I think Italian banks are in a very serious situation. I think German banks are probably in a very serious situation, too.”
It comes as Deutsche Bank's share price this week plunged to record lows, prompted by comments that Angela Merkel's government would not rescue the bank if it needed help.
Rival Commerzbank is also in a fragile position and is expected to cut up... read more