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Loan Crunch Would Be Fatal, Siemens Loescher Tells Tagesspiegel

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Dec. 26 (Bloomberg) -- Siemens AG Chief Executive Officer Peter Loescher said a credit crunch would be fatal for the company’s business as well as for its customers, Tagesspiegel reported today, citing an interview.

Still, the European Central Bank has shown that it’s “alert and ready to act,” Loescher told the newspaper.

The real economy is performing “more robustly than the headlines from the finance world would have you believe,” Loescher also told Tagesspiegel.

To contact the reporter on this story: Cornelius Rahn in Gross Sarau, Germany at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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