Kay
Gottschalk
Negative
Interest Rates
AfD
Kompakt, September 10, 2019
[Kay Gottschalk is an
Alternative für Deutschland Bundestag member from the western German state of
Nordrhein-Westfalen. A former member of the SPD, he is an insurance manager, an
Odd Fellow and AfD spokesman for finance policy in the Bundestag.]
The AfD naturally wishes to defend as much as possible the German
saver against negative interest rates. We however reject the push by Bavarian
Minsterpräsident Söder for a legal ban on minus rates for the saver. In a free
market economy, it is plainly possible for the banks to pass on negative
interest rates to their customers. We reject a planned economy with its
continuing interventions. Herr Söder with this proposal wishes only to hush up
the natural consequences of the euro – bad finance policy as well as the
failure of the euro.
Nevertheless, I cannot understand the lamentations of the German
banks. The chief of the Bafin [Federal Financial Supervisory Authority] Felix
Hufeld is fully right in this respect, the banking industry must urgently alter
its scarcely profitable business model. Here for years has digitalization
slumbered and far too little has been invested in future technologies. The
connection as in other countries like Japan and the USA has clearly been
missed. Where in this country are found the start-ups as in other countries?
Nothing withstanding, it is still clear that at the root of the matter lies the
government’s failures, the failed euro policy and the absolutely false EZB
policy. That ought not be forgotten in regards all the criticism of the banks.
[Translated by Todd Martin]
