Germany Should Prepare for Greek Default, Adviser Feld Tells Handelsblatt

Germany should set funds aside to prepare for a Greek default, Lars Feld, a designated economic adviser to the German government, was cited as saying in an interview with Handelsblatt newspaper.

“I don’t believe that Greece will manage to deal with its debts without a cut,” Feld, nominated by the Cabinet to a five- member panel of economists who advise the government and a professor at the University of Freiburg, was cited as saying. “And then German guarantees will come due.”

http://www.bloomberg.com/news/2011-01-19/germany-should-prepare-for-greek-default-adviser-feld-tells-handelsblatt.html