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NEW YORK ( TheStreet) -- What does Europe really need to get out of its debt woes? Jim Cramer told Debra Borchardt at TheStreet.com that the answer is simple. Growth.
Cramer said the European Central Bank's decision to buy bonds of ailing countries will help in the short run, but over the long term, what the continent needs most is growth. If these countries keep buying products and services, everyone wins. Without growth however, things will continue to drag on towards depression.
And how can Europe spur growth? That too is simple, said Cramer, slash interest rates or loosen up the carbon tax. Either of those, he said, would immediately spur economic activity.
Watch the full Cramer interview