Deficit focus questioned as answer to euro crisis

Deficit focus questioned as answer to euro crisis

Press quote (Associated Press)
Simon Tilford
28 January 2012

Simon Tilford of the CER draws an analogy with US insurer AIG, which was bailed out by the US federal government in 2008. AIG was incorporated in the US state of Delaware, yet Delaware did not go bankrupt handling the rescue. The central government stepped in. The ECB remains "a limited-purpose central bank," says Tilford.