Friday, October 7, 2011

Roubini : Europe Needs 2 Trillion Euro Bazooka

Nouriel Roubini : I am very worried about the situation in the periphery of the Euro Zone , they have a recession coming , there is a fiscal crisis a banking crisis a liquidity crisis a sovereign debt crisis and also a competitiveness crisis and now the contagion is going to spread from Greece to Ireland Portugal to Italy to Spain to their banks their governments to the french banks Belgium banks to the core of the Euro zone and it is a very unstable situation ...... I’m very concerned of things getting out of control,” “You need a huge bazooka of at least 2 trillion euros, but you can’t wait three months. You have to do it in the next few weeks.” Roubini said in an interview at Bloomberg’s Dubai office yesterday.

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