Citi's Willem Buiter suggests the ECB has the power to stop the spread of the debt crisis to...

|By:, SA News Editor

Citi's Willem Buiter suggests the ECB has the power to stop the spread of the debt crisis to Italy and Spain - both essentially solvent, but facing short term difficulties - by standing ready to bid for the states' bonds if necessary. As for GIP - "severely" write down their debt already and move on.