Economist Who Predicted The U.S. Financial Crisis Sees European Sovereign Crisis As Inevitable


Kenneth Rogoff of Harvard University has said that sovereign defaults shouldn’t be a surprise to anyone who knows the history of bank bailouts.

“We usually see a bunch of sovereign defaults, say in a few years. I predict we will again,” Rogoff said, describing the after bank bailout economic environment, according to Bloomberg.

Rogoff points to what is happening with Greece as an example of this, and also suggests that limited growth should be the expectation in wealthy countries like the U.S., Germany, and Japan.

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