Economics guru 'not confident' about recession exit strategy

Economist and banking crisis expert Carmen Reinhart believes Ireland and other advanced economies will have to write down billions in personal and corporate debt.

16th June, 2012

The internationally-renowned economist and banking crisis expert Carmen Reinhart believes Ireland and other advanced economies will have to write down billions in personal and corporate debt before confidence and growth return.

In an interview with *The Sunday Business Post*, the co-author of This Time is Different: Eight Centuries of Financial Folly, said she was not optimistic that current monetary policy and government approaches to the financial crisis were sufficient to rescue western economies from the...

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