“I’m still convinced that Greece will never pay back even a single cent,” Chairman Board of management of BOSCH, Franz Fehrenbach said at the eve of the annual press conference on Thursday in Stuttgart. “They need a debt cut of 100 percent,” he stressed and called for a complete waiver of the billions in debts.
“The money givers, including some German banks, had progressively more and more debt remitted to Greece,” German daily Neckar Chronik wrote and continued:
According to Fehrenbach’s point of view, “A chain of mistakes happened to Greece. The country was proven to have manipulated data in order to reach the euro zone circle and did not use the community money for investments. It applied a policy of accumulating debts instead, has taxed the work and did not develop any sound taxation system”.
Waving Goodbye to Greece
Last February, Franz Fehrenbach had called for an exit of Greece from the Euro zone and the European Union.
Would say he was spot on.