Nouriel Roubini : “If domestic demand is going to be anemic and weak in this fiscal adjustment because of private and public sector deleveraging you need net exports to improve to restore growth,”
“In order to have an improvement in net exports you need a weaker currency and a much more easy monetary policy to help induce that nominal and real depreciation that is not occurring right now in the euro zone,”
“That’s one of the reasons why we’re getting a recession that’s even more severe,” said Roubini. - in CNBC
