Will eurozone crisis go global?

Interesting BBC discussion on the potential global implications of the eurozone crisis, with British economist Philippe Legrain, Italian politician Emma Bonino and Irwin Steltzer of the Hudson Institute.

I doubt if enlightened government action is enough to stop economic fallout from the necessary deleveraging. And beyond the short-term crisis, the only way to get over the negative impact of deleveraging is to support growth. 

Part 2 of the video is here, and Part 3 here.

(Hat tip: Daniel Ben-Ami)