Bloomberg News

Allianz CEO Predicts Deutsche Mark Would Cause Slump, Welt Says

July 07, 2012

Allianz SE (ALV) Chief Executive Officer Michael Diekmann said a return to the deutsche mark would cause “a deep recession” in Germany, Welt am Sonntag reported in a preview of an article that will run tomorrow.

Gross domestic product may fall 25 percent in four to five years if Germany leaves the euro and returns to using the deutsche mark, the CEO of the insurer said, according to the German newspaper.

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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