How significant is the alleged unfair advantage enjoyed by state-owned banks in Germany?
检验了欧盟委员会关于德国国有银行因国家担保而享有融资成本优势的说法，发现私营银行盈利能力较差不能归咎于国有银行更低的批发市场融资成本。
The European Commission argues that the state-owned banks in Germany enjoy an unfair advantage over the private sector banks in the cost of borrowing funds in the financial markets because of state guarantees that public sector banks are perceived to enjoy. This note demonstrates that the blame for the comparatively poor profitability of private sector banks in Germany cannot be laid at the door of the relatively cheaper funds that the public sector banks can raise in the wholesale markets.