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Rajan Says Greek Bailout Fails to Resolve European Debt Crisis

Raghuram Rajan, professor at the University of Chicago and former chief economist of the International Monetary Fund, said the latest bailout of Greece won’t resolve Europe’s debt crisis.

“The European Central Bank has bought some time for the politicians,” Rajan said on Bloomberg Television’s “Bloomberg Surveillance” with Tom Keene. “Unfortunately, every time they buy time the politicians do not use it well. I think we are again in that kind of situation where we are sort of struggling for a longer-term solution.”