EU crisis ‘won’t go away’ until debt and banks tackled

EUROPE’S debt crisis won’t be resolved until a number of country’s restructure their debt and clean up their banks’ balance sheets, said Citigroup chief economist Willem Buiter.

“It won’t go away until Europe restructures a couple of sovereigns and deals with its dummy banks,” Mr Buiter said in an interview on Bloomberg Television in London, adding that probably meant debt restructuring for Greece and Ireland, though not Spain.

“All that’s been done so far is to kick the problem down the road.”