Deutsche Bank co-CEO says eurozone crisis not over

BERLIN Wed Jan 16, 2013 3:44pm EST

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BERLIN Jan 16 (Reuters) - Deutsche Bank co-Chief Executive Juergen Fitschen said it is too early to declare an end to the euro zone crisis and urged policymakers to continue cutting budget deficits.

Speaking at a reception in Berlin, he said moves by policymakers to bring down debt levels in the euro zone were going in the right direction, but warned it was "too early" to expect a return to normal market conditions.

Separately, Fitschen said he was irritated by accusations he had behaved as though he was "above the law" for complaining directly to the premier of the German state of Hesse about the ferocity of raids conducted against Deutsche Bank by local tax authorities and police in December.

Deutsche Bank is headquartered in Frankfurt, which is in Hesse.

"At no point in time was that my intention," he said, adding that sometimes disagreements need to be discussed with less ferocity.

In December 500 prosecutors, armed police and tax inspectors raided Deutsche Bank's headquarters as part of a widening tax evasion probe linked to carbon trading. (Reporting By Gernot Heller, writing by Edward Taylor; editing by Andrew Hay)

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