March 22, 2010 / 1:19 PM / 10 years ago

Greek deputy PM says weak euro suits German firms

ATHENS, March 22 (Reuters) - German banks are profiting from Greece’s budget problems and its exporters stand to benefit from a week euro, Greek Deputy Prime Minister Theodoros Pangalos said on Monday.

“As long as southern Europe is under fire, the euro is being shaken and falling and the conditions under which they (Germany) can win massive exports to the third world, to the rest of the world, are improving,” Pangalos said at a conference in Athens.

Pangalos said Germany was allowing its banks to take part in the “deplorable game” of speculating on Greek bonds.

“I am quite worried that if a decision is not taken quickly ... then the euro will make no sense and if the euro fails this will take us many decades backwards in terms of European integration.”

Reporting by Harry Papachristou

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below