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Dealing with Banking Problems in Europe - Liliana Rojas-Suarez (Interview)
Senior Fellow Liliana Rojas-Suarez was interviewed by CNN en Español on dealing with the current banking problems in Europe. With the escalation of the banking problems, some countries, such as Greece, need a comprehensive restructuring of their banking systems, while many others need a TARP-like program to support re-capitalizations. As the crisis keeps progressing, liquidity support from the European Central Bank (ECB) is proving insufficient. Assistance from the IMF is pivotal to support not only Europe but also the rest of the world should a full-fledged crisis emerge in Europe. The situation is complicated by the fact that the IMF is in need of greater funds and their largest stake holder, the United States, is not in a position to offer support due to their own political challenges.