Ackermann claims Europe needs firewall

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

Josef Ackermann, CEO of Deutsche Bank AG suggests Europe should have firewall to avoid spillover from its debt turmoil. Ackermann recommends increasing the size of European Financial Stability Facility to prevent spillover if it takes place. According to Ackermann, the EFSF should be enlarged to €2 trillion; however, Ackermann did not explain the exact meaning of firewall.

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