Citigroup urges the EU to resolve the sovereign-debt crisis

Willem Buiter, chief economist at Citigroup, said the European Central Bank and EU governments are playing a "game of chicken," paralyzing the eurozone. Citigroup warned that unless EU leaders launch a credible response to the region's sovereign-debt crisis, more banks will collapse and governments will default. "The market is not going to wait until March for the EU authorities to get their act together," Buiter said. "We could have several sovereign states and banks going under. They are being far too casual." Full story here