Harvard Economist 'The Crisis Isn't Over in the US or Europe'

In a SPIEGEL interview, Harvard economist Carmen Reinhart argues governments are incapable of reducing their debts and that central banks are now stepping up to resolve the crisis themselves. In the end, she argues, everyday savers will pay the price.
The Federal Reserve Bank in Washington, DC: "No doubt, our pensions are screwed!"

The Federal Reserve Bank in Washington, DC: "No doubt, our pensions are screwed!"

© Jonathan Ernst / Reuters/ Reuters
Interview conducted by Martin Hesse and Anne Seith