Friday, August 12, 2011

The Eurozone crisis: only the unlimited firepower of the ECB will stop market panic

Daniel Gros interviewed by Viv Davies

Vox

August 12, 2011

Daniel Gros of CEPS talks to Viv Davies about the recent ECB intervention in the bond markets of Spain and Italy. They discuss the European Financial Stability Facility, Eurobonds, double-dip recession and the unsustainablility of increasing leverage. Gros maintains that only the unlimited firepower of the ECB will stop market panic and that patience and a willingness to endure slow growth is now required in the Eurozone. The interview was recorded on 9 August 2011.

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