In the view of Bundesbank President Joachim Nagel, the recent stock market fluctuations as a result of the banking quake are not unusual.

Whenever something like this happens, the financial markets are very unsettled, Nagel said at an event in Edinburgh on Friday. It is often a bumpy road after such events. Similar events in the past have shown this. "So I'm not so surprised that the markets are a bit more volatile than before these events."

The crisis of confidence at the crisis-ridden Swiss bank Credit Suisse and the bankruptcy of California's Silicon Valley Bank had fueled concerns on stock markets around the world that a new financial crisis could be looming. On Friday, the European financial markets once again came under heavy pressure. In the DAX, Deutsche Bank shares lost more than twelve percent in some cases.

(Report by Andy Bruce, edited by Ralf Bode; If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)