The former IMF head stated that the firewall to stanch the spread of the Euro crisis doesn't exist, the European Stability Mechanism will not be operational for several months, and that the European "question is a matter of weeks..not months"
“The problem is that they are still in denial,” he said.Mr Strauss-Kahn was dismissive of the European summit in Brussels earlier this month, saying it was “another of the kind bleeding away, day by day, the remaining confidence investors may have in politicians”...
The stability pact that was agreed at the summit “may be good news for German domestic politics, but it is bad news for the European population.”
...Strauss-Kahn said the firewall to staunch the spread of the crisis “doesn’t really exist”. The €500bn European Stability Mechanism would only be operational in months when “the question is a question of weeks. The question is not a question of months.”