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The German financial system is falling behind, Corriere della Sera concludes:
“Whereas Italy, Spain and Ireland have reorganised their banking systems since the financial crisis – for better or for worse – the European authorities never pushed Germany to do the same. The result is that its second largest bank, Commerzbank, has been in the care of the public sector (a topic on which the supervisory authorities remain silent) for no less than 16 years, while its largest bank, Deutsche Bank, is so weak that it is unable to come to its rescue and save it from falling into ‘foreign hands’.”