The world economy has moved a step further into crisis as the scale of bank losses continues to rise. In just a week's time, some of the world's biggest names in the financial industry, such as Citigroup, Bank of America, AIG, Royal Bank of Scotland or UBS, revealed fresh blows dealt by the credit crisis. Staggering losses that could leave them contemplating state help as a last resort.
- How much more taxpayer money is needed to fix this mess ?
- What level of Government control would constitute full-fledged nationalization ?
- Is such a move inevitable ?
These are the questions Raphael Kahane asked Nouriel Roubini this week. He is a Professor of Economics at Stern University in New York. He is also Chairman of RGE Monitor (www.rgemonitor.com/)
To watch the interview, click on the video