German Government Allegedly Works on Emergency Plan to Save Deutsche Bank

The German government has allegedly begun working on the urgent solution for saving Deutsche Bank, whose shares are at the historic low at barely above $10 a share.

MOSCOW (Sputnik) — The alleged contingency plan stipulates that if Deutsche Bank cannot pay the US Department of Justice a $14 billion penalty, it might sell part of its business to a different financial institution, German newspaper Die Zeit reported, without disclosing its sources.

According to the newspaper, in the worst case scenario the government might finance Deutsche Bank itself, probably buying out as much as 25 percent of the bank.

The Zeit stressed that the government had denied the existence of an emergency plan or any preparations for it.

The US Department of Justice offered Deutsche Bank to pay a fine that would go toward the settlement of potential civil claims over the sales of mortgage-backed securities and agreed to review the bank's counteroffer to the proposed figure.