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Spiegel appears to focus on the crisis of the Landesbanken which, like the Spanish Cajas are notorious for their structural political ties.

Landesbank - Wikipedia, the free encyclopedia

The Landesbanken in Germany are a group of state owned banks of a type unique to Germany. They are regionally organised and their business is predominantly wholesale banking. They are also the head banking institution of the local and regional bases Sparkassen (= saving banks).

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Jan 27th, 2011 at 06:04:18 AM EST
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