Former Obama Adviser Euro Crisis 'Could Become a Global Conflagration'

Austan Goolsbee was President Barack Obama's most important economic adviser until August. He told SPIEGEL that Europe must recapitalize its banks immediately to avoid the risk of a financial collapse. He says that Europe has been far too hesitant in combatting the ongoing debt crisis.
European leaders need to act fast, says former Obama adviser Austan Goolsbee.

European leaders need to act fast, says former Obama adviser Austan Goolsbee.

Foto: AFP
Interview conducted by Marc Hujer and Gregor Peter Schmitz