Many of Deutsche Bank's problems are self-inflicted. But its struggles have also been amplified by something the 149-year-old lender never imagined, mostly because it had never happened before in modern history: negative interest rates.
Chat with us in Facebook Messenger. Find out what's happening in the world as it unfolds.Germany's biggest lender is rapidly slashing jobs, it's losing a ton of money and the stock is trading near all-time lows. Many of Deutsche Bank's problems are self-inflicted. It's been badly mismanaged. Deutsche Bank never fully cleaned up its crisis-era balance sheet. Restructuring efforts fell short. And its countless legal black eyes haven't helped matters.
While the eurozone enjoyed a growth spurt in 2017, the economy has slowed significantly of late, in part because of global trade tensions and demographic challenges. Draghi, the outgoing ECB chief, warned last week that the eurozone's economic outlook is getting"worse and worse." "Monetary policy in Europe has been spectacularly unsuccessful," said David Kelly, chief global strategist at JPMorgan Funds."These negative rates are counterproductive.
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