Easing The Financial Crisis: Europe's Role

This week, European leaders called for an emergency international summit to discuss reinventing the global financial system. The proposal drew a tepid reaction from the United States, so French President Nicolas Sarkozy is traveling to Camp David to bring Europe's case to President Bush.

Willem Buiter, professor of European Political Economy at the London School of Economics and Political Science and a former chief economist of the European Bank for Reconstruction and Development tells host Scott Simon about Europe's role in efforts to ease the global financial crisis.

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