(Adds Kukies quotes, Commerzbank supervisory board member)
BERLIN, May 13 (Reuters) – Germany should not provide a state guarantee to protect any of its banks, the country’s deputy finance minister Joerg Kukies said on Monday, following the failure last month of merger talks between Deutsche Bank and Commerzbank.
Kukies also warned against creating a national banking champion which he said could lead to a regulatory race to the bottom, adding that he had not been behind the attempted tie-up between Germany’s two biggest banks.
“The solution is not the creation of national champions,” former Goldman Sachs banker Kukies told a panel discussion in Berlin’s Bundestag, the lower house of parliament, organised by anti-capitalist opposition party Die Linke.
The most important task for policymakers was to