Paul Volcker: European Debt Crisis Is A Warning Call To The U.S.

Paul Volcker: America Is No Greece, But There Are Lessons To Be Learned From Europe's Debt Crisis

STANFORD, Calif., May 18 (Reuters) - Europe's debt crisis shows the risks for the United States if it does not get its budget deficits under control, former Federal Reserve Chairman Paul Volcker said on Tuesday.

"If we need any further illustration of the potential threats to our own economy from uncontrolled borrowing, we have only to look to the struggle to maintain the common European currency, to rebalance the European economy, and to sustain political cohesion of Europe," Volcker said.

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