"the world is facing a major sovereign debt crisis that will squeeze economic growth and possibly deliver a series of debt default events down the road. Sovereign debt issuance is now sucking up 25 per cent of available world savings and that will squeeze the ability of the private sector to invest in productive opportunities."
"Initially, markets may be wowed by the size of the package. But the size just means that more debt has been added to a problem that is about too much debt! [...] But the solution to a hangover is not more alcohol."
It's not the way to solve the eurozone debt crisis
Financial Times, May 10, 2010