Saturday, May 14, 2011

Nouriel Roubini in Estoril Conference Portugal - 2011

Nouriel Roubini : there is already an economic recovery in the global economy that economic recovery started already in the middle of 2009 so I think the issue is now is to whether there is a recovery but what pace of that emerging markets that recovery is very robust high growth strong growth even over heating and in some advanced economies there is so much private and public debt that there is no direct return to economic growth and unfortunately in the periphery of the euro zone you have five countries Greece Ireland Spain Portugal Italy where either the economy is still contracting so they are not getting out of their first recession or if they gotten out the growth is so low or close to zero that it feels like recession even if technically we are out of recession

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