‘Europe is extremely sick’, says Deutsche Bank chief economist

Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident. I’m no doomsday prophet, I am a realist,” he said in an interview to Welt am Sonntag“In Europe, the bailout does not need to be so large. A €150 billion program should be enough to help European banks recapitalize,” he said.

To be noted is that Deutsche Bank AG is the riskiest financial institution in the world as a potential source of external shocks to the financial system, according to the International Monetary Fund. (Wall Street Journal)