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Economist Asks: Why On Earth Are Bankers Being Asked To solve Euro Crisis?

Shai Ahmed
CNBC [1]
November 14, 2011


Nightingale was scathing about the possibility of the new interim heads of government – Mario Monti in Italy [2] and Lucas Papademos in Greece [3]– being able to deliver their countries out of the current crisis.

“These politicians can do nothing, there is no solution. I’m amazed that the media keeps on as if there’s an obvious solution and that these politicians know what it is,” he said.

He said the existing group of politicians and central bankers would be the last people in the universe to come up with the solution, if one indeed existed.

“It is somewhat ironic that the prime minister in Italy is Monti. He was a member of the European Commission. He was one of the architects of the system that caused all the problems. Why on earth would you put him in place? It would be a semi-miracle if the solution works” Nightingale said.

Full article here [1]