Ackermann Says Spanish Contagion ‘Not Off Table,’ N-TV Reports

Deutsche Bank AG (DBK) Chief Executive Officer Josef Ackermann said that while the solution to Greece’s crisis reduced the risk of contagion to Spain and Portugal, such a scenario is “not completely off the table,” N-TV reported.

Europe has “taken good steps” in solving its debt crisis, N-TV cited Ackermann as saying in an interview. He added that some “fundamental tasks” remain, with the biggest being in mid-term growth and unemployment, N-TV reported.

If Europe’s debt problems are solved in five years, it would represent a “fantastic achievement,” Ackermann also told the news channel.

While Europe has “all chances and a huge potential” to find a solution to the debt crisis, “brave steps” are needed, the TV station cited him as saying.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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