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Buiter Warns of New Wave of Europe Bank Failures, Telegraph Says

Willem Buiter, the former Bank of England Monetary Policy Committee member who is chief economist at Citigroup Inc., warned of a fresh wave of European bank failures, the Daily Telegraph reported.

Buiter said the eurozone was paralyzed by a “game of chicken” between the European Central Bank and governments using the single European currency, saying the markets wouldn’t wait until March for a resolution, the newspaper said.