Germany’s Homburg Expects Eurozone Breakup, Bild Says
(Corrects costs estimate in second paragraph.)
Stefan Homburg, a public finance professor at Hanover University, predicts that Greece won’t be able to pay back its debt and the result will be a breakup of the eurozone, Bild-Zeitung reported, citing an interview.
The euro rescue package sets wrong incentives and it’s only a matter of time before strong countries drop the common currency, the newspaper cited Homburg as saying. Leaving the eurozone now would cost Germany a low three-digit-billion euro amount, while contributing to further financial aid would be much more expensive, according to Homburg, Bild said.
To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net
To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.
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