Deutsche Bank's global head of FX research George Saravelos, whose recent report drew sharp criticism from US authorities, insists his firm's research remains independent. Saravelos told Bloomberg Television the episode 'really reaffirmed the importance of research independence,' a stance that came after his analysis suggested President Trump's Greenland comments could make Europe less willing to hold US assets.

Days later, US Treasury Secretary Scott Bessent dismissed Saravelos' report, claiming the German bank's CEO had personally called to refute it. This public clash highlights growing tensions between US officials and European financial institutions over research integrity and the geopolitical implications of asset allocation decisions.