Deutsche Bank

The chief executive of Goldman Sachs (GS), Lloyd Blankfein, is confident the euro will survive despite the debt crisis, he said in an interview with newspaper Welt am Sonntag."The risk that euro will break apart or that individual members are headed for bankruptcy was substantially higher a year ago," he said. There is clear political commitment to the euro zone and the euro, which forms the basis for solving economic problems over time, the newspaper quoted Mr. Blankfein as saying."Americans have a history of underestimating the political will of the Europeans to see through the successful creation of a United Europe. I'm not going to make the same mistake."He rejected the view of billionaire investor George Soros that Germany should either exit the euro, or accept the idea of joint liability for sovereign debt through so-called euro bonds. Mr. Blankfein dismissed those "extreme scenarios" and said that a solution whereby stronger economies support the weaker ones would evolve over ti...

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