Citi Economists Calls European Lawmakers 'Wimps'

Just a few days after JPMorgan's senior economist, James Glassman, came out and characterized US senators as children in a research note to clients, Willem Buiter, Citi's Chief Economist, has had a pop at European lawmakers.

Glassman issued an apology for saying: 'The (recent Goldman) hearings exposed an unnerving ignorance of fundamental principles of market economics by folks who have a hand in remapping rules of finance that will be with us for a while. Now that the financial reform debate is in the final innings, it's time for the grown-ups to step in'.

And now Buiter has criticized Europe governments for their reluctance to agree to a restructuring of Greek debt, calling them 'wimps'. The economist said in a speech at the Council on Foreign Relations in New York last week: 'If the European area governments weren't such wimps, they would have done it right away. It's been a disgraceful episode for European heads of state, especially in Germany, for the narrow-minded parochialism that has been displayed'.

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