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German Economists Warn Against Greek Exit From Euro, Welt Says

May 8 (Bloomberg) -- Commerzbank AG Chief Economist Joerg Kraemer said it would be “economic suicide” for Greece to return to the drachma, which would prompt a run on local banks to withdraw euros, Welt reported, citing an interview.

Thomas Mayer, chief economist at Deutsche Bank AG, said a Greek exit from the euro region would lead to a crisis in Europe’s political and currency union and could cause a bank run in some EU countries, the newspaper said.

Thomas Straubhaar, head of the Hamburg-based HWWI economic institute, told the newspaper a euro exit could force Greece into bankruptcy and cause a “domino effect” like the collapse of Lehman Brothers Holdings Inc.

To contact the reporter on this story: Aaron Kirchfeld in Frankfurt at akirchfeld@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net; Edward Evans at eevans3@bloomberg.net

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