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Outlook 2012: Euro debt crisis

Tags: euro zone

The European debt crisis continually grew in scope and scale throughout 2011. BNN speaks with Erik Weisman, Investment Officer and Portfolio Manager at MFS Investment Management, for his take on the next stage in the euro zone debt crisis.

"At least for the beginning of the year it's going to be a lot of the same…there are a number of issues that need to be dealt with," he says. "The legality of what was dealt with at the last summit also has to be finalized in terms of treaty changes."

Weisman also says that while the European Central Bank has stepped up to provide liquidity for European bond markets, the private sector will remain reticent to buy sovereign debt.

"I think you'll see a lot of local banks buy the debt of their own countries, but I'm not sure beyond there whether it will be easy to find buyers, and that could be a problem," he says. CTV Two CTV News CTV News Channel BNN - Business News Network CP24