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The fear of foreigners

I would like to say it amazes me that Europe’s countries
are still very insular and resistant to open access and open borders for open
business … but it does not.

This week, it is the
Germans who are being accused of protectionism.

On Wednesday, Germany
introduced the concept of a law that would outlaw the idea of
German banks being controlled, run, owned or even interfered with by Sovereign Wealth
Funds
.

The law passed by the Cabinet for approval by Parliament,
would allow German politicians to reverse any investment in a German business
that exceeded more than a 25 percent ownership stake by a foreign
investor.

But it may place Germany in a very weak place, according to their business community.

Read
more …

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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