According to an unnamed source, talks between the European Commisson and the German Government about the state rescue of Commerzbank are expected to conclude shortly. The German government needs Brussels’ blessing to execute its 18 bln euro rescue of Commerzbank.
A second source says “the negotiations over the past two weeks were very positive” adding “agreement has been broadly reached with the Commisson.” The source says the Commission could approve the state aid after the Easter break.
A mildly positive development for the euro.