Nouriel Robini on Bloomberg TV: The Euro summit was a failure… markets were expecting much more. Either you have debt neutralization [EFSF purchases of government bonds] or debt monetization by the ECB or EFSF/ESM be doubled or tripled using leverage ….or you will have a worse crisis in the next few weeks.
The ability of politicians to kick the can down the road will run out of steam in 2013…..next year could be a global perfect storm
Bloomberg TV: Roubini Says 2013 `Storm’ May Surpass 2008 Crisis