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Friday, June 1, 2012

Roubini : America Risks Contagion from Europe

Nouriel Roubini : CERTAINLY THERE IS A RISK OF CONTAGION. THE TRADE LINK BETWEEN EUROPE AND U.S. ARE MODEST BUT THE FINANCIAL LINKS ARE IMPORTANT. IN THE SPRING OF 2010 WHEN THERE WAS THE FIRST GREEK CRISIS, YOU HAD THE CORRECTION OF 20% NOT ONLY OF EUROPEAN EQUITY BUT THE U.S. EQUITY. LAST SUMMER WHEN WE HAD THEWORRIES ABOUT THE EUROZONE PROBLEM SPREADING TO SPAIN AND ITALY, IT WAS A 20% CORE ACTION IN EUROPE. ALMOST AS MUCH AS CORE ACTION IN EMERGING MARKET IN THE UNITED STATES. WHEN TROUBLE OCCURS IN THE EUROZONE THE RISK OF SOMETHING DISORDERLY IMPLIES THE RISK IS OFF, RISK AVERSION IS HIGH AND THAT AFFECTS GLOBAL EQUITY MARKETS NOT JUST THOSE IN THE EUROZONE. - in CNBC
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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