Thursday, October 6, 2011

IMF Adviser Robert Shapiro Says We Face a Global Banking Meltdown in Next 2-3 Weeks

The BBC yesterday interviewed IMF adviser Dr. Robert Shapiro who is looking for a global financial meltdown in the NEXT 2-3 WEEKS that will be worse than the 2008 financial panic!

"If they can not address in a credible way I believe within perhaps two to three weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counter-parties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serious than the crisis in 2008"

Watch Dr. Shapiro's BBC interview below: