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The firm has turned down a joint offer by two financial investors to focus on a joint solution with the DSGV under public law.
In an email message to Bloomberg, Heinrich Haasis, president of the DSGV association of German savings banks, said, 'I want to warn against a situation where a Greek default becomes a realistic option for creditors because of the schedule and too-high write downs.
On the other hand, Heinrich Haasis, President of the German Sparkassen and Giro Association (DSGV), is resolved to take the case to the ECJ, if needed.
"But in reality," argues one of his former colleagues at the savings banks federation DSGV, "he has furthered his stunning career as a willing servant and sometimes even overzealous party soldier for his conservative higher-ups in the CDU." All along--from his early bosses, Gerhard Stoltenberg and long-term chancellor Helmut Kohl, up to his present conservative party leaders, Angela Merkel and Edmund Stoiber--Kohler remained close to his party.
German savings bank association Deutsche Sparkassen- und Giroverband (DSGV) has said that it favours the exemption of all savings banks from higher capital requirements under Basel III, Dow Jones has reported, citing DSGV president Heinrich Haasis.
Hoppenstedt, President of the German savings banks association DSGV, Juan Ramon Quintas, President of the Spanish savings banks association CECA, Carl Eric Stalberg, Executive Chairman of Sweden's Forenings Sparbanken (Swedbank) and Sandro Molinari, a high representative of the Italian savings banks association ACRI.
ESBG has also elected as vice-presidents Dietrich Hoppenstedt of the German savings bank association DSGV, Sandro Molinari of the Italian savings bank association ACRI, Manuel Pizarro Moreno of the Spanish savings bank association CECA and Charles Milhaud.
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