Euro TARP Needed to Fix Crisis, Weinberg Says: Tom Keene

A Troubled Asset Relief Program for euro members is the region’s best bet for fiscal recovery following a Greek election that “didn’t really fix anything,” according to High Frequency Economics founder Carl Weinberg.

The European Central Bank can only keep banks liquid, rather than actually repair their structural flaws, Weinberg, chief economist at the Vallhalla, New York-based research firm, said in an interview today on “Bloomberg Surveillance” with Tom Keene, Ken Prewitt and Sara Eisen. This pushes the responsibility to prompt reform onto European Union Economic and Monetary Commissioner Olli Rehn, as well as the ruling bodies of individual countries, he said.