George Magnus, independent economic adviser to UBS, says the problem facing the global economy is that governments are not facing up to their fiscal responsibilities. With Cardiff Garcia at Camp Alphaville in London he assesses prospects for the US, Europe and emerging markets.<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
