The CEO of Robert Bosch, Franz Fehrenbach, has warned that the worsening European debt crisis could lead to a recession in Europe.
“There is more chaos and therefore the crisis has worsened. That’s why I fear now that a crisis-hit sentiment will weigh on demand,” Fehrenbach said in an interview with Sunday paper Welt am Sonntag.
“If uncertainty keeps getting spread, we can no longer rule out a recession,” he added.
Fehrenbach was also highly critical of the economic and regulatory environment in Greece, saying he would not build another plant there.