Schwarzman Says European-Debt Answer Hinges on Fiscal Union

Stephen Schwarzman, chairman and chief executive officer of Blackstone Group LP, said fiscal union will be at the center of any resolution of the European sovereign-debt crisis.

“The rest of the world is prepared to be supportive if it looks like a European solution actually is going to work, and the Europeans will put up a lot of money to make it happen,” Schwarzman said today in an interview on Bloomberg Television’s “InBusiness.”