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German IW Chief Says Debt Crisis to Ease, WirtschaftsWoche Says

The euro region’s sovereign debt crisis will ease next year and the common currency will still be around in five years after leaders earlier this month agreed to have their budgets monitored more closely, Michael Huether, head of the business-sponsored IW economic institute, told WirtschaftsWoche magazine.

While Germany’s economic situation will be difficult next year, there won’t be a slump comparable to 2009, the magazine cited Huether as saying in an e-mailed advance copy of an article. There’s no danger of a credit crunch in Germany, Huether said.

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