Citi CEO: No answers to the crisis in this market cycle

Markets are still searching for a "new paradigm" and will not find the answers to the financial crisis in the current cycle, according to Citigroup CEO Vikram Pandit.

Speaking at the World Economic Forum in Davos, Pandit told Bloomberg Television the ECB's provision of liquidity to the banking sector, coupled with more talk of a fiscal compact in Europe, will "buy time". "A lot of the actions that are happening are moving in the right direction of a stronger euro, a stronger eurozone, and they should definitely buy all of us a lot of time here to see if we can create a path to a much more sustainable Euro. It is going to take some time though," Pandit said. He suggested 2012 will be a "year for decisions", and one in which sovereign risk issues may...