Deutsche Bank shares crashes on report’s Merkel not to help

Deutsche Bank falls to lowest level in 24 years on the stock market, weighed down by concerns about the financial soundness of the German bank in view of the mega compensation from $ 14 billion demanded by the US to close the dispute linked to subprime mortgages.

On Monday, at Frankfurt Stock Exchange, the shares fell more than 6% at EUR 10.69, reviewing the lowest levels since 1992. Other disputes weigh on Deutsche Bank, since the manipulation of exchange rates, the trading of precious metals and suspicious transactions of exchange of shares in Russia with money laundering charges.

On Friday, the German magazine Focus had reported that German Chancellor Angela Merkel has ruled out any state aid for the bank in the year that separates by the next general elections in Germany in September 2017.

Merkel also refused to comment on the legal dispute which the bank has with the Department of Justice of the United States, which calls for a $14 billion fine to settle civil claims regarding its handling of the mortgage-backed-securities crisis.

The company has previously said that a settlement between $2 billion and $3 billion would be fair, as it had already paid $1.9 billion in 2013 to resolve similar claims, the Wall Street Journal reported earlier this month.