Another Nobel laureate speaks out about the economic crisis

Robert Engle, who received the Nobel Prize in Economics in 2003 for developing statistical models to predict events, such as risks in financial markets, should be the right person to comment on the financial crisis. To the Brazilian newspaper Valoronline, he says during his Brazilian holiday that it is difficult to predict how the current crisis will develop. The reason is simple: the big issue is no longer an economic or financial problem, but a political problem.

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