Daimler finance chief says EU needs a plan

AP News
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Posted: Sep 20, 2011 2:13 PM
Daimler finance chief says EU needs a plan

Daimler AG's finance chief says European leaders need to quit talking and settle on a plan that will fix the continent's economic crisis.

Bodo Uebber told reporters Tuesday in New York that European businesses like the German automaker want to see a clear plan for solving the debt crisis.

He says the more officials talk without action, the more people get nervous about the economy.

Uebber says Daimler doesn't support abandoning the Euro, because there is no alternative.

He adds that if the global economy does take a turn for the worse, Daimler is in better shape than it was the last time it did three years ago.

Uebber pointed to the company's strong balance sheet, significant cash reserves, global footprint and improved product lineup.