Elizabeth Corley, the CEO of Allianz Global Investors warns the consequences will be "very, very severe" for the whole world, and not just Europe if plans to fix the financial crisis do not work.
She also tells HARDtalk's Tim Franks that the legacy issues from the European crisis and the regulation that will follow on from that could be very negative for growth.
You can watch the full interview on BBC World News on Wednesday 25 April at 04:30, 09:30, 15:30 and 21:30 GMT and on the BBC News Channel on Wednesday, 25th April 2012 and 0030 BST on Thursday, 26th April 2012.
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