Nobel laureate foresees dollar crisis

The value of the greenback could collapse within the next five years without reform of the global monetary system, Robert Mundell, a Nobel Prize-winning economist, has said.

Mundell told Reuters, a news agency, that he believed the US's burgeoning current-account deficit could precipitate a much more severe crisis than the present one if the monetary system's set-upremains unchanged. "I see the problem coming maybe in the next recession," Reuters reported him as saying. "There could be a real