Stephen D. King of HSBC spoke with CNBC about the future of the global economy, specifically, of global currencies.
- 0:45 The eurozone crisis is a stress between creditors, like Germany, and debtors, like Greece. The same thing is going to happen on an international level, with China, Russia, and Saudi Arabia the creditors, and the U.S. the debtor.
- 1:45 Creditors will start to ask questions about the U.S., and the U.S. may respond by devaluing its currency.
- 2:45 Growth can’t solve the problem of deficits alone.
- 3:30 Do not underestimate the will to make the euro succeed; they may make progress towards a U.S. style system.
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