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Deutsche Bank CEO on Greek Default

Thursday, 26 Jan 2012 | 11:43 AM ET

Deutsche Bank CEO Josef Ackerman says he thinks nothing is going wrong with negotiations on Greek debt problems and a solution is very close. Ackerman says a default in Greece would be damaging because people underestimate the collateral damages that include the payment system within the central bank and exposure to Greek companies, not just a sovereign consequence. He adds that Deutsche Bank reduced its risk to sovereign debt early on.