This is a fantastic interview with Citi's Willem Buiter on Bloomberg TV.
You can hear the anger in his voice as he argues that Europe may have a matter of days before an unnecessary default and a financial catastrophe.
The answer: the ECB must act fast, and ignore the Germans who don't get it. While some people don't think that the ECB can really monetize sovereign debt this way, Buiter believes there's absolutely nothing preventing the ECB from doing whatever it wants on the secondary market.
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