GLG's Lagrange: How I would tackle the eurozone crisis

GLG co-founder Pierre Lagrange has outlined how the ECB could solve the sovereign debt crisis without resorting to eurobonds.

Lagrange said he sympathises with Germany's unwillingness to underwrite the debts of peripheral nations via eurobonds, although this option remains one of the most viable solutions long-term. Instead, Lagrange said the ECB could directly underwrite the existing and future debt of the eurozone sovereigns. He said rules should be put in place to ensure the underwriting is conditional on countries achieving budget deficit and debt targets, with a potential time-frame of five years. "I believe what is currently on offer by politicians will take too long to achieve, while I also fail to...