Paulson Points Out the Obvious About Europe

Although there are similarities with what the United States went through at the onset of the financial crisis, the issues in Europe are more complex and will take years to resolve, Henry Paulson, former Treasury Secretary and founder of the Paulson Institute told CNBC on Wednesday.

Mandel Ngan | AFP | Getty Images Henry Paulson

“There is similarity [with the financial crisis in the U.S.] in certain regards. This has been going on for a long time and I think it will take years to play out,” Paulson told CNBC.

Paulson, who served as Treasury Secretary when the subprime mortgages credit crunch erupted, sparking the world’s worst economic crisis since the Great Depression, said that at the time the U.S. was faced with a “collision of political forces and market forces”.

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