ECB LTROs to ‘Rock’ World From 2014, World Bank Basu Says
This article is for subscribers only.
Three-year loans granted by the European Central Bank last year will disrupt the global economy when the debt matures in 2014 and 2015, according to World Bank Chief Economist Kaushik Basu.
“It’s a debt wall that’s going to come up to us,” Basu said at a seminar in Helsinki today. “We’re going to get another big rocking of the global economy in 2014, 2015.”