David Mayes: The crisis could last for 20 years

Interview with Prof. David Mayes (University of Auckland) in Norwegian daily Dagsavisen. Mayes claims that the underlying problem is the lack of economic growth, whichis needed in all EU member states in order to pay their debts. He argues that a stronger political union is not necessary, but a certain trust must be established that the countries in trouble will take a larger responsibility for their own finances.