Salient to Investors:
Henry Paulson at the University of Chicago said Europe will drag on but eventually stabilize and avoid catastrophe. Europeans are committed to monetary union, but isn’t sustainable without some political union.
Paulson said government policies is more to blame than banks because it encourages people to save too little and borrow too much. The root causes of financial crises is almost always failed government policies – more regulation is never enough to save us because you’re never going to uncover all the problems in advance.
Paulson predicts the U.S. will emerge relatively unharmed from the European debt crisis, but growth won’t be enough to make a dent in employment.
Read the full article at http://www.bloomberg.com/news/2012-06-19/paulson-says-harm-to-u-s-from-europe-crisis-is-minimal.html