The following is my translation of an article that appeared in Het Financieele Daglad, a major Dutch financial newspaper.
The temporary pause in the European debt crisis is as deceptive as the frenzy before the New Year, says economist Willem Buiter.
The countries of the eurozone will eventually emerge from the sovereign debt crisis -- with pain and difficulty. That is what Citigroup chief economist Willem Buiter, on a visit to Amsterdam on Friday during a roadshow, expects. Spain and Italy will get their finances in order and the ECB will jump in when necessary. Deep integration of fiscal policy, according to him, is not necessarily required.
"The absence of bad news today is good news. If Spain can borrow at 5% for ten years, it is better than 6% or 6.5%. In Italy the r...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.