What people overlook, also this linked pieces is, that Germany also has the banking system for this. You can say, there are three types of banks, private, state

What people overlook, also this linked pieces is, that Germany also has the banking system for this. You can say, there are three types of banks, private, state and co-op banks. And while there are huge private banks, most state and co-op banks are organised locally. Almost every district has its own Sparkasse und many towns still have a Volksbank or Reifeisenbank. This is an important feature of the economics in Germany I think. Yes, many of these banks might be too small today and many merge into bigger banks but they are still the most trusted banks in the country.