Blanchflower Expects ‘Continuing Pressure’ From U.S. on Europe
David Blanchflower, an economics professor at Dartmouth College, said today he expects the U.S. to maintain pressure on Europe after the debt crisis deal.
“I think we’re going to see continuing pressure from Geithner and the administration to clean up the act,” Blanchflower said in a radio interview on “Bloomberg Surveillance” with Ken Prewitt and Tom Keene. Timothy F. Geithner is the U.S. Treasury Secretary.
“This is still a worrying sign from Europe,” said Blanchflower, a former Bank of England policy maker. “The devil really is in the detail.”
Regarding French President Nicolas Sarkozy’s plan for a possible contribution by China to Europe’s efforts to resolve the region’s debt crisis, Blanchflower said: “It sounds a little like we go cap in hand to the Chinese with a begging bowl. That doesn’t really sound like sound economics.”
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