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Monday, October 31, 2011

Roubini : The Markets will Turn Skeptical On Euro Deal

"In the next few weeks there will be questions about the viability of what has been decided and increasingly the markets are going to become skeptical this is a solution to the euro zone," .
"That's not enough and makes those bonds very risky," he said. Roubini noted that a debt write-down of "50% has been imposed on Greek creditors, so why would you want to take an exposure on Italy and Spain?"
"The recession is already ongoing in the euro zone," "People are going to say it's good financial engineering, but unless you have economic growth there is going to be a train wreck." Roubini said in an interview in Paris via the Wall Street journal

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Nouriel Roubini nicknamed Dr. Doom and lately Dr. Realist by CNBC , is a professor of economics at the Stern School of Business, New York University and chairman of RGE Roubini Global Economics, an economic consultancy firm . Prof. Nouriel Roubini A world-class economist who offers an unflinching look at the global meltdown and distinctive insights into its course going forward. His research on financial crisis in emerging economics has yielded a unique and now vindicated approach to future collapses. Roubini speaks on the global economic outlook and its implications for the financial markets. From his analysis of past collapses of emerging economies, he has identified common factors that support his predictions of crisis in the US and world markets. He has held several high-level advisory positions in the US government and international finance organisations, published numerous policy papers and books on key international macro-economic issues and is regularly cited as an authority in