Europe Crisis Won’t Lead to Repeat of Lehman, Magnus Says

Europe’s mounting debt crisis is unlikely to lead to a widespread collapse of banks, according to George Magnus, senior economic adviser to UBS Investment Bank in London.

“Whilst that was a big shock in 2008, a lot of things have changed,” Magnus said in an interview with Francine Lacqua on Bloomberg Television today, referring to the collapse of Lehman Brothers Holdings Inc. “I don’t believe we are going to have a banking meltdown,”