BERLIN, March 14 (Reuters) – Chancellor Olaf Scholz on Tuesday mentioned Germans shouldn’t have main considerations concerning the fallout of Silicon Valley Financial institution’s (SIVBV.UL)
collapse and that regulators had discovered classes from the worldwide monetary disaster in 2008.
Scholz was talking alongside the president of Azerbaijan, Ilham Aliyev, in Berlin, who mentioned his nation needed long-term contracts for fuel deliveries to Europe, and in addition for renewable power deliveries.
Silicon Valley Financial institution’s collapse pressured world financial institution shares additional on Tuesday as buyers fretted over the monetary well being of some lenders, despite assurances from U.S. President Joe Biden and different policymakers.
“We’ve got made important progress because the state of affairs of the 2008/09 monetary disaster,” Scholz mentioned, seeing higher public oversight of the banking system.
The “very clear response” from U.S., British, European and German officers confirmed the state of affairs was being carefully monitored and actions taken rapidly, he mentioned.
Newest Updates
View 2 extra tales
“That is the perfect factor you are able to do to make sure the protection of programs,” emphasised Scholz. “On this respect, there’s actually no motive for anybody right here in Germany to have main worries.”
Reporting by Matthias Williams and Andreas Rinke
Enhancing by Madeline Chambers and Miranda Murray
: .