Financial Crisis to Influence Limitedly on World Economy: Head of Deutsche Bank

Business Materials 20 September 2008 13:31 (UTC +04:00)

Azerbaijan, Baku, 20 September / Trend corr. A.Badalova / "Influence of the current financial crisis on the world economy will be limited,"  Josef Ackermann, the head of Deutsche Bank, the hugest private bank of Germany, said at the VII international investment forum in Sochi, which was lively aired through the Russian Vesti TV channel.

"There will be volatility at markets for while," he said.

The current crisis will not influence on the Russian Economy, he said. "Basic principles are too high here," Ackermann said.

It is necessary to develop measures to prevent further crisis, the head of Deutsche Bank said. However, Ackerman believes that issuing special means by banks will lead to stabilization only at a lower level.

The current crisis is not unusual, Ackermann thinks.

"This is only a 'bubble'. People, who should recognize it, underestimated it," he said.

According to Ackerman, it is necessary to approach loaning clearly in future.

"Surge of this field will be observed at other sides. Loans, including mortgage will be issued less," the head of Deutsche Bank said.

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