Credit mediator-designate Hans-Joachim MetternichGermany is appointing a "credit mediator." And he will be obeyed.
The goal? To get German banks to lend to the kind of companies they probably shouldn't lend to. Why? It is their duty to society, according to Rainer Brüderle, the Republik's economics minister.
And if they refuse? Well, Germany has a solution to that question.
The minister wouldn't rule out enforcing additional rules on banks if they don't follow the government's calls. "The state can, of course, take further regulatory steps," if everything else fails, he said.