Roubini Greece Is Bankrupt

Friday, January 29, 2010

Roubini Greece Is Bankrupt

By: Kim Khan
News Editor, CNBC.com
Are we concentrating too much on sovereign debt concerns? Not according to Nouriel Roubini, who can still live up to his pessimistic reputation.

“Greece is bankrupt,” Roubini told CNBC.com at WEF. “Look, they have to ask China to help them out.”

Greece is trying to get trying to entice China to buy 25 billion euros ($35 billion) in bonds, according to published reports Wednesday.

If the situation becomes dire enough the European Union will be forced to help bail Greece out because it’s such a threat to the monetary union, he said.
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2 comments:

Unknown said...: Mr. "doom" - what is situation with California?

It is probably in Mr "doom"'s explanation - "very bright"...

NOTICE: California's (bankrupt!) economy is bigger that Greece, Portugal and Spain - TOGETHER!!!

And NOT to mentioned AT LEAST (!)additionally 40 US states? (Bankrupt too, of course!).

Mr. "clever doom" comments are just "commissioned" by US financial system and FED.
They are - not just totally useless, but even very dangerous because he (FED's Mr. "doom") is trying to HIDE the REAL catastrophe of the US financial system.
Pfuj...; January 30, 2010 at 5:51 AM
Anonymous said...: If Greece is bankrupt, why warry? Would Greece care if another country went bamkrupt?
Would Greece care if Israel, Turkey or Macedonia went bankrupt? They get fat salaries without producing any good works!; April 24, 2010 at 4:41 AM

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Nouriel Roubini, (born March 29, 1958, Istanbul, Turkey), Turkish-born American economist and educator who was best known for predicting the 2007–08 subprime mortgage crisis in the United States and the subsequent global financial crisis.

Born to Iranian Jewish parents, Roubini moved with his family to Iran and Israel before they settled in Italy in 1962. After a year at Hebrew University of Jerusalem, he studied economics at Bocconi University in Milan (B.A., 1982) and Harvard University (Ph.D., 1988), where he specialized in macroeconomics and international economics. He joined the economics faculty at Yale University in 1988 and taught there until 1995, when he moved to New York University. He also served as a visiting scholar to the International Monetary Fund (IMF), was a research associate with the National Bureau of Economic Research (NBER), held single-year terms on the White House Council of Economic Advisers (1998–99) and at the U.S. Department of the Treasury (1999–2000), and cofounded (2004) the consulting firm Roubini Global Economics. Roubini spent much of his early career studying countries that experienced extreme economic failures, such as Mexico (in 1994), Thailand and other countries associated with the 1997 Asian financial crisis, Russia (1998), and Argentina (2000). He determined that each shared one common element: a massive current account deficit.(www.britannica.com)

Nouriel Roubini is the Chairman and CEO of Roubini Macro Associates, LLC, his own global macroeconomic consultancy firm. He is also a professor of economics at New York University’s Stern School of Business. Dr. Roubini has extensive policy experience as well as broad academic credentials. From 1998 to 2000, he served as the senior economist for international affairs on the White House Council of Economic Advisors and then the senior advisor to the undersecretary for international affairs at the U.S. Treasury Department, helping to resolve the Asian and global financial crises, among other issues. The International Monetary Fund, the World Bank and numerous other prominent public and private institutions have drawn upon his consulting expertise.

NOURIEL ROUBINI BLOG

Friday, January 29, 2010