Nouriel Roubini thinks that the Greece bailout by the European Union is a step in the right direction althout he would have preferred for Greece to go through a formal IMF structural Program . Roubini also believes that the Greece problems are only the tip of a bigger iceberg , the rest of the PIIGS countries are not in a better shape than Greece , Portugal and its neighbor Spain may soon come to Brussels to ask for their bailouts too following Greece footsteps
"It is a step in the right direction even if my favored choice for Greece is to get a formal IMF program," Nouriel Roubini said
"IMF lending is based on conditionality of achieving certain fiscal and structural goals. In the case of loan guarantees, it's very hard to make those loan guarantees conditional...you either give them—or don't give them." Roubini added ...
Source CNBC
Nouriel Roubini nicknamed Dr. Doom and lately Dr. Realist by CNBC , is a professor of economics at the Stern School of Business, New York University and chairman of RGE Roubini Global Economics, an economic consultancy firm . Prof. Nouriel Roubini A world-class economist who offers an unflinching look at the global meltdown and distinctive insights into its course going forward. His research on financial crisis in emerging economics has yielded a unique and now vindicated approach to future collapses. Roubini speaks on the global economic outlook and its implications for the financial markets. From his analysis of past collapses of emerging economies, he has identified common factors that support his predictions of crisis in the US and world markets. He has held several high-level advisory positions in the US government and international finance organisations, published numerous policy papers and books on key international macro-economic issues and is regularly cited as an authority in
