The European Union needs to stand up to “blackmail” by banks if it is to get itself out of the current economic crisis and create a fairer market system, Peer Steinbrück has said.

The centre-left candidate for German chancellor said on 19 February that Europe must end its reliance on the Anglo-American market model and instead create a system that keeps the market competitive, but also delivers on social protection.

Speaking at the European parliament in Brussels, Ste...

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