Bloomberg News

Ackermann Says Spanish Contagion ‘Not Off Table,’ N-TV Reports

March 26, 2012

Deutsche Bank AG (DBK) Chief Executive Officer Josef Ackermann said that while the solution to Greece’s crisis reduced the risk of contagion to Spain and Portugal, such a scenario is “not completely off the table,” N-TV reported.

Europe has “taken good steps” in solving its debt crisis, N-TV cited Ackermann as saying in an interview. He added that some “fundamental tasks” remain, with the biggest being in mid-term growth and unemployment, N-TV reported.

If Europe’s debt problems are solved in five years, it would represent a “fantastic achievement,” Ackermann also told the news channel.

While Europe has “all chances and a huge potential” to find a solution to the debt crisis, “brave steps” are needed, the TV station cited him as saying.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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