Bloomberg News

Mayer Warns of Disorderly Greek Bankruptcy, Rheinische Reports

June 14, 2012

Greece faces the risk of a disorderly bankruptcy if it drops its commitment to reform and the austerity plan after the elections, former Deutsche Bank AG (DBK) chief economist Thomas Mayer told Rheinische Post in an interview.

If Greece renounces reform and austerity, the International Monetary Fund most likely would suspend payments to the country, the newspaper said, citing Mayer.

To avoid a collapse of Greece’s economy, the European Union should continue to provide the money to service Greek debt and recapitalize its banks, Rheinische Post cited Mayer as saying in a preview of an article to appear today.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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