Mannheim
- The head of the Bundesbank
Axel Weber (photo)
Tuesday refuted reports according to which he had told German
lawmakers in a closed door session that Greece could need
Euro 80 billion to avoid
default. “These were not my figures. I merely cited
them,” Weber said. There is no alternative to bail out
Greece, he reportedly told the lawmakers. Weber also dismissed reports that he had compared Greece to the
German bank HRE, which required repeated financial injections from the
German government. “I did not make a comparison between HRE and
Greece, I only used it
as an example to illustrate that liquidity needs are
uncertain,” Weber said.
