Allianz CEO: Greek Referendum May Have Disastrous Impact
November 02 2011 - 11:13AM
Dow Jones News
German insurer Allianz SE (ALV.XE) chief executive Michael
Diekman Wednesday said the timing of the call by Greek Prime
Minister George Papandreou for a referendum on the latest bailout
package from Europe is "very unfortunate" and may have a disastrous
impact on the country.
Speaking at the B20 business summit ahead of the summit of the
Group of 20 industrial and developing nations here in Cannes,
Diekman said the need to implement changes to the European
Financial Stability Facility agreed last week has become even more
urgent as investors question the details of the agreement.
He also warned against a prolonged period of low interest rates
and said a discussion with central banks needs to take place on the
matter.
-By William Horobin, Dow Jones Newswires, +33 1 4017 1740;
william.horobin@dowjones.com