Deutsche Bank AG. chief economist Norbert Walter sees the risk of a recession in Germany at 40 percent, but said an economic stimulus package would be futile, he told Die Welt newspaper in an interview.
He expects an annual economic growth of 1.5 percent in Germany this year, but the country is already on the verge of stagnation, he said in an excerpt of an interview to be published on Friday.
Meanwhile, government spending programmes to revive growth are wrong and would only amount to burning money, he told the newspaper.
Economic stagnation in the euro-zone is likely to last longer than the slump at the beginning of the decade, and the region's economy is unlikely to return to growth before 2010, Walter added.
Ok... Sure... Oil is helping us too.
He expects an annual economic growth of 1.5 percent in Germany this year, but the country is already on the verge of stagnation, he said in an excerpt of an interview to be published on Friday.
Meanwhile, government spending programmes to revive growth are wrong and would only amount to burning money, he told the newspaper.
Economic stagnation in the euro-zone is likely to last longer than the slump at the beginning of the decade, and the region's economy is unlikely to return to growth before 2010, Walter added.
Ok... Sure... Oil is helping us too.