Gunter Dunkel, the chairman of Norddeutsche Landesbank Girozentrale, or NordLB, knows all about ships. His bank is one of the three largest financiers of ships in Germany.
The captains of giant ocean liners and the heads of banks have much in common these days, Mr. Dunkel said last week at Handelsblatt’s annual conference for savings banks and state banks in Berlin. The fortunes of both are increasingly being driven by forces outside their control.
In the case of banks, Mr. Dunkel was referring to the rigorous monitoring of financial institutions by the European Central Bank, which took over the job of regulating the largest banks in Europe in November 2014. Mr. Dunkel went on to use the maritime metaphor to launch a frontal assault on the new European financial watchdog.