Europe won’t be able to resolve its debt crisis until the economy worsens, pushing Germany to allow support for Spain and Italy, said Julian Callow, chief international economist at Barclays Plc in London.
Italy’s ability to implement fiscal austerity and reduce its debt burden is crucial to euro-zone policy makers’ efforts to end the region’s debt crisis, according to Julian Callow, chief European economist at Barclays Plc in London.
A jazz-loving Finn with a reputation for consensus building may emerge as a compromise candidate to lead the European Central Bank during its first cycle of interest-rate increases for more than three years.
Sept. 13 (Bloomberg) –- Carmen Reinhart, a professor at the Harvard Kennedy School, Simon Johnson, a professor at Massachusetts Institute of Technology, and Julian Callow, chief international economist at Barclays, participate in a panel discussion about the future of the euro and European Central Bank policy. Bloomberg’s Sara Eisen moderates the panel at the Bloomberg Markets 50 Summit in New York. (Source: Bloomberg)
What will 2012 bring? We are in the fifth year of a financial crisis, and it would be wonderful to forecast a strong global recovery. Yet Europe is still trying to right itself, joblessness stays high in the U.S., and China’s ability to escape the malaise in the West remains an open question.
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates.