Reuters: US Dollar Report: Siemens CEO sees euro surviving, unsure on Greece

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Siemens CEO sees euro surviving, unsure on Greece May 23rd 2012, 17:59 Wed May 23, 2012 1:59pm EDT May 23 (Reuters) - The chief executive of German conglomerate Siemens AG said on Wednesday he expects the euro to survive the continent's debt crisis, but he said it is unclear if Greece will remain in the monetary union over the long term. "Our assessment clearly is Europe will continue to be a situation where governments will work through. The euro will continue to exist," Peter Loescher, the Siemens CEO, told the Electrical Products Group conference in Longboat Key, Florida. "If Greece will be part of it or not, nobody knows," he said. "Is it really relevant from an industrial perspective? I guess much less than many people think." Loescher said that demand in northern Europe, including Germany and Poland, is more important for Siemens and has been relatively stronger than the south. "The northern part of Europe is actually doing well," he said. Euro zone officials on Monday agreed to advise members of the currency bloc to prepare contingency plans in case Greece leaves the group, three officials told Reuters.

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