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Liliana Rojas-Suarez 2012 Global Economic Prospects in CNN in Spanish (Interview)
As part of a special edition of CNN program, CNN Dinero, Senior Fellow Liliana Rojas-Suarez formed part of a panel discussing global economic prospects for 2012. She emphasized that events in Europe will determine growth prospects around the globe. Liliana is not optimistic about the resolution of the Eurozone crisis given the lack of a decisive and coordinated efforts to deal with two major problems: (a) mounting difficulties in the banking sector; and (b) the European Central Bank’s reluctance to behave as a lender of last resort. If this trend were to continue in 2012, a number of defaults will materialize and the Eurozone will not survive in its current form. A much needed large increase in IMF resources to contain the European crisis will also continue to face severe impediments in 2012 in view of the ongoing political mess in the US, whose vote is needed for a formal increase in the lender’s resources.