DB co-Ceo Says Greek Deal is Possible in Short Term

Anshu Jain, co-CEO of the German financial powerhouse Deutsche Bank, told CNBC on Wednesday that none of the euro zone countries wants Greece to exit the currency union.
“The odds we get some sort of a short-term deal are reasonably good. The medium and longer-term outlook to me is still quite troubling,” Jain said in a CNBC “Squawk Box” interview ahead an important meeting between Greek Finance Minister Yanis Varoufakis and his euro zone counterparts in Brussels.

Varoufakis is expected to propose a four-pillar overhaul of his country’s current bailout program.

Jain said, “We are poised at a pretty unfortunate juncture … because Greece was definitely heading in the right direction.”

The Greek austerity plan was working, he added, but acknowledged the political realities in Athens after the leftist government prevailed in last month’s election.

“One has to respect democracy. But we now have a government which is moving in a different direction, which of course creates a level of tension between them and the troika, which has been funding them,” Jain said, referring to the European Central Bank, International Monetary Fund, and European Commission.

via CNBC

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