Serious questions are being asked about the competence of economic policy makers in the Western world.
Adam Posen is about to retire as one of the independent members of the Bank of England's Monetary Policy committee.
He tells Stephen Sackur that if Germany were to allow a break-up of the eurozone it would be "political pandering".
You can watch the full interview on BBC World News on Wednesday 22 August at 03:30, 08:30, 15:30 and 20:30 GMT and on the BBC News Channel at 04:30 BST on Wednesday 22nd August 2012 and 00:30 BST on Thursday 23 August 2012
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