NOURIEL ROUBINI BLOG tracks the media appearances of Dr Nouriel Roubini his interviews articles debates books news speeches conferences blogs etc..Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
Monday, August 20, 2012
Nouriel : Eurozone breakup unavoidable
Nouriel Roubini :....If a gradual process of disintegration eventually makes a eurozone
breakup unavoidable, the path chosen by Germany and the ECB –
large-scale financing for the eurozone periphery – would destroy the
core central banks’ balance sheets. Worse still, massive losses
resulting from the materialization of credit risk might jeopardize core
eurozone economies’ debt sustainability, placing the survival of the
European Union itself in question. In that case, surely an “orderly
divorce” now is preferable to a messy split down the line. - in project-syndicate