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The outcome of Wednesday’s EU leader’s summit triggered a massive global stock market rally. But there are plenty of sceptics who have been sounding off.The latest is economist Ken Rogoff. Speaking at a Bloomberg conference last night, Rogoff argued that EU leaders only bought time, but problems still persist.
“It feels at its root to me like more of the same, where they’ve figured how to buy a couple of months,” said Rogoff (via Bloomberg).
He believes Greece is still likely to leave the euro within 10 years. “The interesting question is will all the countries in the euro still be in the euro? My answer to that is no.”