Friday, November 11, 2011

Roubini: Italy Is Doomed & Needs to Exit The Euro Zone

Italy may need to exit the Euro zone Unless ECB, Germany Step In and revert to its own national currency The Lira to resolve its debt crisis, thereby forcing the break-up of the Euro zone, Dr. Nouriel Roubini wrote in an article in the Financial Times on Friday.

"So if you cannot devalue, or grow, or deflate to a real depreciation, the only option left will end up being to give up on the euro and to go back to the lira and other national currencies. Of course that will trigger a forced conversion of euro debts into new national currency debts." Roubini said

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