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Global Market Risk Is Building Like in August 2007, Summers Says

  • Crisis firefighters had better not book vacations, he says
  • Japan’s bond holdings need watching, ex-Treasury chief says
Bloomberg business news
WATCH: Former US Treasury Secretary Lawrence Summers says he sees “tremors” of elevated risk.Source: Bloomberg
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Former Treasury Secretary Lawrence Summers likened the array of risks confronting the global economy to the pre-crisis summer of 2007, with the UK’s current troubles just one example of potential breakdowns.

“We’re living through a period of elevated risk,” Summers told Bloomberg Television’s “Wall Street Week” with David Westin. “In the same way that people became anxious in August of 2007, I think this is a moment when there should be increased anxiety.”