Deutsche Boss Consistently Inconsistent

What is it with Deutsche Bank CEO Josef Ackermann ? Maybe it gets lost in translation, but he appears to have a knack of making incomprehensible or inconsistent statements about the markets.

Eyebrows were raised a few weeks back when Ackermann, who helped put together Greece's rescue package, subsequently raised doubts that the country would be in a position to repay its debts - bailout notwithstanding.

Fast forward just four weeks, and Ackermann has changed his tune: 'I am confident that, based on the personal commitment by the (Greek) Prime Minister to implement the necessary reforms - however difficult they are, even sacrificing his own political future - convinces me it will happen....It will enable them to service their debt'.

Let's hope that the words of Greek PM George Papandreou end up having more credibility than those emanating from Ackermann's mouth.

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