Josef Ackermann, former CEO of Deutsche Bank, trusts that Germany will undertake the necessary measures to ensure that the euro survives the crisis. Moreover, Ackermann stated that the abolition of the Eurozone will entail considerably more costly repercussions rather than continued aid. The reason why Germany appears to be taking actions at a slow, yet careful pace is due to the fact that Germany is concerned that the periphery countries will no longer take the needed development steps if Germany ensures saving the situation.