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For the time in post war history Germany passes a law allowing the state to take control of failed banks

Constanze TressMarch 21, 2009

Here in Germany, parliament has approved a bill that would enable the government to nationalise the troubled Hypo Real Estate Bank. The controversial legislation is the first of its kind in post war Germany. Hypo is currently being kept afloat by some 100 Billion Euros in state guarantees.

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