Bosch CEO tells magazine Greece has no place in EU

February 15, 2012 15:19


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FRANKFURT - The chief executive of one of Germany's most respected manufacturers and an adviser to Chancellor Angela Merkel has called for Greece to be kicked out of the European Union because it is an "unbearable" burden.

"This state with its phantom pensioners and rich people that don't pay taxes, a state without a functioning administration, has no place in the European Union," Bosch CEO Franz Fehrenbach told Manager Magazin, according to a transcript of an interview to be published on Friday.

He is the latest in a number of senior German business figures to lash out at Greece over its role in the EU and a second euro zone bailout. A survey of over 300 managers in the magazine shows roughly 57 percent want Greece to drop out of the euro and reintroduce the drachma.

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