Former Central Bank Head Karl Otto Pöhl Bailout Plan Is All About 'Rescuing Banks and Rich Greeks'

The 750 billion euro package the European Union passed last week to prop up the common currency has been heavily criticized in Germany. Former Bundesbank head Karl Otto Pöhl told SPIEGEL that Greece may ultimately have to opt out, and that the foundation of the euro has been fundamentally weakened.
The euro reached a four-year low on Monday. Former German central bank head Karl Otto Pöhl said the European common currency's downward trend could continue.

The euro reached a four-year low on Monday. Former German central bank head Karl Otto Pöhl said the European common currency's downward trend could continue.

Foto: ddp
Interview conducted by Wolfgang Reuter