Roubini : ECB must cut rates or risk crisis again

Roubini : "They have to cut the policy rate, they have to stimulate the economy, they have to try to weaken the value of the euro,""The euro should be 10, 20 or even 30% weaker to restore the competitiveness of the [eurozone] periphery," Roubini said. "If they are the only [central bank] holding out, then the damage economically and politically will be severe," he said. "The risk is there will be a clash between austerity fatigue in the periphery of the eurozone and bailout fatigue in the core -- the two could clash in a way that could put at risk again the entire eurozone system."