Bundesbank President Jens Weidmann does not mean to alarm you, but he thinks that Europe's, um, difficulties could take a while to resolve. He's just spitballing, but, you know, maybe longer than the Great Depression.
"Overcoming the crisis and the crisis effects will remain a challenge over the next decade," he said, contrasting recent comments from European Commission President José Manuel Barroso that the worst of Europe's crisis is over.
"The calm that we are currently seeing might be treacherous" if it delays overhauls at the national and European level, Mr. Weidmann said. There can be no quick fixes from the ECB either, he said.