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Economy / West German Banks #236269

CBS Evening News for Monday, Sep 02, 1974
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(Studio) For. currency speculation incrd. in Europe. Disaster for some German banks.
REPORTER: Roger Mudd

(W. Germany) In 2 mos., 4 banks collapsed. Big speculators shifted 100's of millions in hopes of reaping big profits. No federal deposit insurance here. Group of banks guarantee repayment of up to $8000. Couple cries in front of Cologne bank. Big banks ask for supervision over little banks speculating. Leftists want banks ntlized. American bank lost few millions. [President national association German banks Dr. Alwin MUENCHMEYER - says not afraid of economy collapse. It's exaggerated.] Real danger is people might lose faith in banks.
REPORTER: John Sheahan

Mudd, Roger;
Sheahan, John

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