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Darrell Delamaide’s Political Capital: Angela Merkel has bungled the Deutsche Bank crisis, like everything else

It would be a sadly fitting capstone to Angela Merkel’s checkered tenure as chancellor of Germany if her mishandling of the Deutsche Bank DBK, +2.88%DB, -6.67% crisis leads to a cascade of bank failures in Europe and completes her destruction of the euro EURUSD, -0.4812% .

Earlier this week, MarketWatch columnist Matthew Lynn incisively analyzed the crisis facing Germany’s largest bank and the crucial need for Berlin not only to be ready to intervene but to let the world know it right now.

The German government is denying that it has any plans or intention of bailing out the bank, which by any measure is a globally systemic financial institution — that is, its failure would inevitably trigger a global banking crisis.

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