Nobel Prize-winning economist Joseph Stiglitz said the euro currency could dissolve “any time now.”

He said that the nations of the euro area are unlikely to “really” solve their sovereign debt crisis.

Speaking to reporters in Toronto on Tuesday, the Columbia University economics professor said a big crisis in Europe would likely spread around the world.
__________________________________________________________

‘You Opened My Eyes to the Catastrophic Enormity of This Financial Debacle’

Debt ceiling ‘medicine will become the poison,’ according to famed economist. Brace for economic meltdown. Watch the Aftershock Survival Summit Now, See the Evidence.
__________________________________________________________

Stiglitz also said austerity is a “suicide pact” for the world’s major economies.

“The only way we’re going to make it through, restore economic growth, is by stimulating the economy,” he said.

“The austerity that is going on in Europe, America and so forth is effectively a suicide pact for our economies.”