The best in Sports and Finance

Eurozone will collapse this year, says Nouriel Roubini

Nouriel Roubini, the economist credited with having foreseen the credit crunch, has warned that the eurozone will collapse within the year – with Greece and Portugal leaving

“The eurozone is a slow-motion train wreck,” Mr Roubini said. “Countries – and not just Greece – are insolvent. I think Greece will leave the eurozone in the next 12 months, and Portugal after.”

The New York University professor of economics was speaking at one of the final sessions of the World Economic Forum annual meeting in Davos.

“There is a 50pc chance that the eurozone will break up in the next three to five years. This doesn’t look like a G20 world it looks like a G-Zero world because there is no agreement on global imbalances, how to change the international monetary system, international trade, banking regulation, on all the fundamental issues.”

The economist also warned that if the US and Iran went to war, oil prices would spike 50pc and there’ll be a global recession.

“In the UK there is recession, even the US is not doing great, in India there’s a slowdown and they’re worried about that. In China, exports, infrastructure investment, real estate is slowing down, so there’ll be a significant slowdown in China this year,” he concluded.



4 responses

  1. Very well written post. It will be supportive to everyone who usess it, as well as me. Keep up the good work – for sure i will check out more posts.

    02/09/2012 at 9:40 PM

  2. Attractive section of content. I just stumbled upon your website and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Any way I will be subscribing to your augment and even I achievement you access consistently rapidly.

    02/18/2012 at 8:20 PM

  3. I just want to say I am just very new to blogging and really enjoyed this web page. Most likely I’m want to bookmark your site . You surely come with beneficial article content. With thanks for sharing with us your web-site.

    02/26/2012 at 4:25 AM

  4. My wife and i were really cheerful Edward could carry out his inquiry through the precious recommendations he discovered when using the site. It is now and again perplexing to simply find yourself giving freely instructions which men and women might have been making money from. And we all understand we have got the blog owner to appreciate for this. The main illustrations you’ve made, the straightforward site menu, the relationships you can give support to instill – it’s mostly impressive, and it is making our son and the family feel that the subject is brilliant, and that is tremendously serious. Many thanks for all!

    02/28/2012 at 12:00 AM

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s