March 19, 2013 / 1:45 PM / 5 years ago

Deutsche Bank CEO sees limited contagion risk from Cyprus levy

FRANKFURT, March 19 (Reuters) - Deutsche Bank Chief Executive Anshu Jain said he sees limited risk that other troubled European Union countries will follow the example of Cyprus and attempt to impose a levy on bank deposits.

“We see near term contagion risk as limited. This is unlikely to be a model for other European Union States,” Jain told a Bundesbank conference in Frankfurt.

For Cyprus, the proposal presents a clear path to cutting the country’s debt to GDP ratio, Jain said.

Jain said large risks remain, but said he does not think that Cyprus presents an “extreme tail risk” for the euro zone.

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