Rogoff Says Greece May Not Be Europe’s Last Bailout (Update1)

Focus on the PIIGs while ignoring similar risks in other larger nations.

It’s more likely than not that we’ll need an IMF program in at least one more country in the euro area over the next two to three years,” Rogoff, a former IMF chief economist who has co-authored studies of financial and sovereign debt crises, said in a telephone interview. “The budget cuts needed in Europe in many countries are profound.”

Source: bloomberg.com