Friday, May 14, 2010

Greece Permanently In Debt

The chief executive of Deutsche Bank, Josef Ackermann, said it would require "incredible efforts" by Greece for it to repay its debt in full. He told ZDF TV:

"I would doubt that Greece over time will be in a position to come up with the economic potential."

Meanwhile it has emerged that the catalyst, that pushed Germany to finally agreeing to help bailout Greece, was the threat from Nicolas Sarkozy (President fo France) last Friday to pull France out of the Euro.

As to whether he really would have done it, had the Germans called his bluff, is another matter.

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