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Ifo’s Sinn Says S. Europe Faces ‘Infirmity,’ Handelsblatt Says

May 14 (Bloomberg) -- Hans-Werner Sinn, president of the Munich-based Ifo economic institute, said supplying southern European countries with continued, cheap, public credit will lead to a infirmity if not to a complete economic collapse in Europe, Handelsblatt said.

When the euro region becomes the central administrator with investment management carried out by the state, the system can’t work because it prevents the capital market from being the important economic driver, Sinn wrote in a guest commentary in the German newspaper.

The European Central Bank is causing private capital to flee countries such as Italy and Spain because it offers cheap credit, Sinn wrote in Handelsblatt.

To contact the reporter on this story: Sheenagh Matthews in Frankfurt at smatthews6@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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