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

clock

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...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

UK employment falls to 13-year low despite positive services output

UK employment falls to 13-year low despite positive services output

BDO Employment index

Cristian Angeloni
clock 07 July 2025 • 1 min read
Trump returns to tariff threats as 9 July deadline approaches

Trump returns to tariff threats as 9 July deadline approaches

EU and BRICS at risk

Linus Uhlig
clock 07 July 2025 • 1 min read
Early Powell departure could be an 'unexpected gift' for EMs

Early Powell departure could be an 'unexpected gift' for EMs

Trump claims he will replace chair sooner

Eve Maddock-Jones
clock 01 July 2025 • 3 min read
Trustpilot