When you think of sick European banks, you think of the Italians and their groaning portfolios of dud loans. You don’t think of the German banks. The German economy is powering ahead and its stolid banks are going along for the ride.
The reality could not be more different. Deutsche Bank (DB), along with Italy’s Monte dei Paschi di Siena, are the least healthy banks in Europe. But DB is a lot bigger than Monte dei Paschi and its overhaul could inflict enormous damage on the German, and global, economies if it does wrong.Report Typo/Error