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Against the privatisation of savings banks - An argument for competition and social cohesion

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  • Gernot Mittler

Abstract

In ifo Schnelldienst 14/23005 and 23/2005, contributions on the "three-pillar model" in German banking were published. Gernot Mittler, former Minister of Finance of Rhineland-Palatinate, presents his opinion on the reform of the German banking system. In his view the efforts to privatise the savings banks should be resisted because the privatisation debate is motivated basically by the objective of eliminating the strongest rival, which has not yet succeeded in the market. For Gernot Mittler the savings bank organisation is not only the most successful column in the tripartite German system but also guarantees "an optimal service both for businesses and for private households in the urban and also in the rural areas". An additional aspect also speaks for the current system: "The branches of the savings banks are not only important posts in the regions in terms of savings capital but also communication centres whose loss would mean the disappearance of an important information channel on rural economic developments. Precisely in the rural areas, face-to-face relationships take place "that are important elements of the quality of life".

Suggested Citation

  • Gernot Mittler, 2006. "Against the privatisation of savings banks - An argument for competition and social cohesion," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 59(11), pages 07-11, June.
    • Handle: RePEc:ces:ifosdt:v:59:y:2006:i:11:p:07-11
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    References listed on IDEAS

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    1. Unknown, 2003. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Fruhjahr 2003," Report Series 26058, Hamburg Institute of International Economics.
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    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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