Roubini: States with large budget deficits and the need for fiscal austerity reforms

Nouriel Roubini, speech at the Central South-East European financial forum in Romania

States facing high budget deficits require fiscal austerity, but structural reforms, market-oriented, because this could make a difference and could absorb short-term volatility, said Nouriel Roubini, professor of economics at the University New York Financial Forum 2010 today.