Banks Unwilling to Pass On Interest Rate Cuts - Rip-off artists. Of course - a glaring example of how managers and entrepreneurs like banks simply don't do what the Union always claims: invest, stimulate the economy, support markets. The banks are just raking it in instead of picking up on the ECB's impulse and passing it on. And so the ECB's interest rate cut fizzles out almost without effect - there are effects, in the banks' coffers.
And meanwhile the banks continue to ration and ration, cut more and more jobs, and charge fees for non-services (everything runs automatically and is performed by the customer themselves, but the fees and costs for bank accounts are going up - hasn't anyone noticed this?).
Found at tagesschau online.