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Saturday, September 8, 2012

Roubini : The Eurozone is disintegrating , either move forward or you are going to fall off a cliff

Nouriel Roubini : "History suggests that whenever (there is) a crisis with too much private debt first and public debt second you have a painful process of deleveraging," said Roubini at the annual Ambrosetti Forum at Lake Como on Friday 07 Sept 2012 "That would imply many years, up to a decade, of low economic growth. And guess what? Economic recovery in the US has been unending and in the eurozone and UK there's outright economic contraction right now, and that's not going to change unfortunately in the next few years."
"Today the eurozone is disintegrating. ... either move forward or you're going to fall off a cliff." - in New Zealand Herald
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