Bundesbank President Jens Weidmann in an interview today with the WSJ floated the notion EU recovery could take 10 years.
It obviously wasn't something Europe's politically elite wanted to hear. It also sent a shot across the bow of those leaders who have recently suggested the EU's problems were mostly rear-view mirror.
Hardly a single interplanetary soul isn't aware such could mean: hello Japan, not a pleasant table setting to enjoy a good meal.
Weidmann further suggested leaders needed to step up by overhauling some things, an oblique reference many believe to the fiscal train wreck that the EU is, and make funds available to small businesses.
Weidmann concluded that he didn't think monetary policy "is the key."
http://online.wsj.com/article/SB10001424127887324493704578428552244471438.html?mod=WSJ_hp_LEFTWhatsNewsCollection
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