For small savers, negative interest rates are still the exception. But Markus Söder is already considering state compensation if the banks were to pass on their burden to their private clients on a broad basis with the European Central Bank's (ECB) low interest rate policy.
"The state should not stand idly by and see how saving is made more and more difficult.At last it takes a big master plan, how to protect savers and free from negative interest rates," said the CSU leader and Bavarian prime minister of the "Passauer Neue Presse ".
The debate about negative interest rates has been picking up for months, as the ECB is increasingly overriding the actual rules of economic policy through its loose monetary policy. Classic savings and investment models no longer work. As early as summer, Söder had called for a ban on low interest rates for savers. Finance Minister Olaf Scholz (SPD) announced at that time, the legal framework for this at least to be examined.
Fairness required for the saver
"If a ban should not be possible, there must be a compensation," said Söder now the "Passauer Neue Presse". "The state should not continue to benefit from the negative interest rates at the expense of the savers and it should return it to the savers over a tax claim, which would be fair."
The low interest rate weighs heavily on the banks. The ECB is taking from them currently negative interest rates of 0.5 percent when they deposit funds with her. And there are also negative interest rates for government bonds issued by the state. Investors who bet on this safe option must also pay
Read the SPIEGEL cover story here: When saving makes you poor
In view of this situation, the ECB warned banks against taking on greater risks, for example when investing in funds or real estate. Accordingly, some institutions are now forced to collect negative interest from their customers.
Most recently, the practice of the Volks- and Raiffeisenbank in Fürstenfeldbruck in Bavaria had been criticized for requiring de facto negative interest rates from the very first euro - including new private customers. The bank defended the rule that applies only to overnight money accounts. She was there to protect existing customers.
