Interview With US Economist Eichengreen 'Europe's Banks Are in Far Greater Danger Than People Realize'

The European Union is hoping that aid to Greece and Ireland combined with closer economic policy coordination will be enough to put an end to the euro crisis. But that's not likely, warns US economist Barry Eichengreen. First and foremost, he says in an interview with SPIEGEL, Europe needs to help out its ailing banks.
Economics expert Barry Eichengreen says it is time for European politicians to recapitalize the Continent's banks.

Economics expert Barry Eichengreen says it is time for European politicians to recapitalize the Continent's banks.

Foto: RALPH ORLOWSKI/ REUTERS
Interview conducted by Peter Müller