Anshu Jain, co-CEO designate of Deutsche Bank, is confident that a solution to the ongoing sovereign debt crisis in Europe will be found, even if there are significant hurdles to overcome and the markets are likely to remain volatile in the meantime.
“On the one hand we have countries which are struggling to reach political consensus to implement fiscal austerity, especially given the potential social reaction and the risks for a negative spiral in growth prospects. On the other, there is reluctance on the part of the stronger economies to support the weaker countries in the absence of substantial economic reform and strong fiscal measures.”
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