Mayer Warns of Disorderly Greek Bankruptcy, Rheinische Reports
Greece faces the risk of a disorderly bankruptcy if it drops its commitment to reform and the austerity plan after the elections, former Deutsche Bank AG (DBK) chief economist Thomas Mayer told Rheinische Post in an interview.
If Greece renounces reform and austerity, the International Monetary Fund most likely would suspend payments to the country, the newspaper said, citing Mayer.
To avoid a collapse of Greece’s economy, the European Union should continue to provide the money to service Greek debt and recapitalize its banks, Rheinische Post cited Mayer as saying in a preview of an article to appear today.
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