Growth Funded by Debt Is Nonsensical: Pro

2:00 AM ET Thu, 21 June 2012

"The best case view that we have for European growth over the next three years is flat in aggregate. Growth measures funded with more debt doesn't really make a lot of sense, the key problem is that the European project is not viable as it stands," Bob Janjuah, global head of tactical asset allocation at Nomura, told CNBC.