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Citigroup’s Buiter Says European ”˜Wimps’ Slow Greek Debt Revamp
Citigroup Inc. Chief Economist Willem Buiter said European governments have delayed an inevitable Greek debt restructuring because they’re “wimps” and don’t want to bail out their own banks.
“If the European area governments weren’t such wimps, they would have done it right away,” Buiter, a former adviser to the International Monetary Fund and World Bank, said today in remarks at the Council on Foreign Relations in New York. “It’s been a disgraceful episode for European heads of state, especially in Germany, for the narrow-minded parochialism that has been displayed.”
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