My interview on BBC IPlayer:
2.07 and 30 seconds into the broadcast for 10 minutes
If you want to hear a good debate on the merits or otherwise of a regional banks this is a great debate
Three thoughts to remember from the Baltic debate on Friday
i). In Uk 75% of banking is through the big 6 London banks, many of whom failed in the financial crash
In Germany 75% of banking is through the Local Banks - none of whom have failed in the financial crash
ii). Profit should result from providing a good service - not profit resulting from a drive for profit to the exclusion of a good service - a great description of business management from Anthony Thompson
iii). As Dr Thomas Keidel explained in his spellbinding address:
In Germany there is the holy trinity in the centre of every town: - Church, Town Hall and Local Bank, all of which are respected and which are the mainstay of that town. The Local Bank makes a profit but above a certain level it provides a contribution to the community it lives and works in.
No local banker in Germany takes a bonus. If his bank were to go bust the German manager would never work in banking ever again.
Once you understand what a local bank is you would never stay with the London based Big 6 UK banks, I certainly would not - that is why we are changing the law and making this possible