Thursday, November 17, 2011

Roubini : The Eurozone Crisis has spread to the core

Professor Nouriel Roubini, in a Twitter message on Wednesday warns that the market storm that has been shaking the weaker countries of the eurozone has finally spread to the core. The crisis has led investors to doubt the ability of countries to pay back their debts. Roubini noted that the interest differential on bonds taken out by Belgium, France, Austria, and Finland compared with loans taken by Germany had grown. "Contagion has spread from periphery to core of the EZ as spreads widened in France, Belgium, Austria and Finland" Roubini wrote on twitter , "EZ financial conditions are becoming unstable as core - France,Belgium,Austria- CDS spreads are now surging & contagion spreading to core" he added in another message

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