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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