Friday, January 15, 2010

Roubini warns about The Coming Sovereign Debt Crisis

Several Advanced Economies Risk Suffering A Sovereign Debt Crisis, Say Nouriel Roubini And Arpitha Bykere

Nouriel Roubini
In an article today on Nouriel Roubini and Arpitha Bykere wrote the following about the danger of The Coming Sovereign Debt Crisis :

"The severe recession, combined with a financial crisis during 2008-09, worsened the fiscal positions of developed countries due to stimulus spending, lower tax revenues and support to the financial sector. The impact was greater in countries that had a history of structural fiscal problems, maintained loose fiscal policies and ignored fiscal reforms during the boom years. Going forward, a weak economic recovery and an aging population is likely to increase the debt burden of many advanced economies, including the U.S., Britain, Japan and several eurozone countries."

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