Britannia Radio

RICHARD KOO: There's Only One Solution That Can Save Europe Now

Politicians will hate this, but according to Nomura economist Richard Koo it's too late to save Europe unless they're willing to go nuclear.

By that he means: Big time guarantees across the entire financial system to ensure that everyone survives. Lots of taxpayer money with few strings attached.

Any half measure, such as asking banks to try raising money fr6m the private sector could be a disaster.

Government needs to ease atmosphere of mutual mistrust by guaranteeing banks’ liabilities

There is little time left in the eurozone: policy missteps thus far have already created an atmosphere of mutual mistrust among banks.

http://www.businessinsider.com/richard-koo-its-time-to-go-nuclear-heres-how-to-save-europe-2011-10

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