Greece: There Will Be A Violent Reaction, A Revolution

I think you are deluding yourself to think that the alternative is going to be to stay in the euro, stay in a depression and eventually it will lead to so much social and political stability...there will be a violent reaction to it, a revolution. - Nouriel Roubini during a conference in Athens


Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics

Nouriel Roubini : Greece not just illiquid, but insolvent

Nouriel Roubini : ....That is only kicking the can down the road for a year. I am afraid that Greece, more likely than not ,isn't just illiquid, but insolvent. And providing an insolvent country with money and forcing it to make painful cuts isn't going to do it. Even if taxes are raised and spending is cut, Greece won't necessarily become more competitive. On the contrary, output might fall, unemployment might rise and market share will be lost. We need a plan B....
in www.spiegel.de

Roubini : the markets are very worried about Greece

Nouriel Roubini :"...Today the markets are very worried about Greece, but that's only the tip of the iceberg. Increasingly, bond market vigilantes have woken up in places like the UK and Ireland. Even the US and Japan will have problems because of their huge budget deficits. Maybe not this year, but they will eventually. In the US, states like California, Nevada, Arizona, New York and Florida have immense fiscal problems. The growing budget deficits and the huge government debts are really what worry me most...."
in www.spiegel.de

Roubini : Only solution for Greece is to leave the eurozone

Greek Reporter - 09.12.2010

Nouriel Roubini, professor of economics at the New York University and consultant at the US Congress estimated that the only solution for the restoration of the Greek economy is the devaluation of its currency, which means leaving the euro zone and going back to the drachma. However, he explained that this is not feasible since it presupposes withdrawal from the EU, and pointed out that in such an eventuality, the devaluation of the currency would rise to 50%..
The famous economist, considered that no matter how the budget harmonisation in Greece will be correctly made, the country will not solve the huge state debt problem.
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Roubini : Greece will default

The Greek government will not be able to avoid restructuring its debt despite its ongoing austerity drive, eminent American economist Nouriel Roubini has told Kathimerini.

“If you don’t want to call it default or bankruptcy, call it a restructuring under pressure, but it’s going to happen,” said the New York University professor in an interview published in yesterday’s Kathimerini.

Roubini, who has been dubbed “Dr Doom” for his pessimistic economic outlook, has described Greece as “the Lehman Brothers of Europe” – a reference to the US investment bank whose collapse in 2008 triggered turmoil across the global financial markets.
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Roubini : The Eurozone is on the verge of breaking up

NYU's Roubini Says Greece Wasn't Ready to Join EU

April 28 (Bloomberg) -- Nouriel Roubini, a professor at New York University, talks with Bloomberg special correspondent Willow Bay about the impact of the Greek fiscal crisis on the European Union. Roubini also discusses the outlook for the U.S. economy. They speak at the 2010 Milken Institute Global Conference. Bloomberg's Pimm Fox also speaks. (This is an excerpt of the full interview. Source: Bloomberg)

Roubini : The European Union Could Break-up

Roubini sees 'significantly rising' risk that European monetary union will rip apart

Economist Nouriel Roubini, the famed Dr. Doom of the global financial crisis, doesn’t need much of a push to wax pessimistic. So the news Tuesday that Greece’s credit rating had been cut to junk status was like pitching him a softball right down the middle.

At a panel at the Milken Institute Global Conference in Beverly Hills, Roubini worried that Greece’s financial woes -- and more important, the deepening fiscal problems of its European neighbors Portugal and Spain -- could batter global credit markets, disrupt the economic recovery and potentially tear apart the 11-year-old European monetary union.

“The reality is that what has happened in the last few months is the first test of the viability of the European market” and the euro currency, Roubini said, adding that the possibility of the European monetary union coming apart is “significantly rising.”
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Roubini Says IMF Aid for Greece Would Be Cleaner Than Leaders Compromise

MARCH 26, 2010
By Jana Randow and Rishaad Salamat March 26 (Bloomberg) — Nouriel Roubini , the New York University professor who predicted the financial crisis, said a rescue plan for Greece by the International Monetary Fund would have been “cleaner” than the deal endorsed yesterday by leaders of the 16-nation euro region. “It’s a compromise between the German views where they wanted to have a greater role of the IMF in the support of Greece and the views of the rest of the euro zone, especially France, where they wanted a European solution,” Roubini said in a Bloomberg TV interview today. “An IMF solution would have been a cleaner one because the IMF has the experience” in providing financial aid to struggling countries

Source:
Roubini Says IMF Aid for Greece Would Be Cleaner Than Leaders’ Compromise

Nouriel Roubini on Yuan and Greece Bloomberg Interview live from Cernobbio Italy

March 26 (Bloomberg) -- New York University Professor Nouriel Roubini talks with Bloomberg's Rishaad Salamat about the European Union's aid plan for Greece. Speaking at Cernobbio, Italy, Roubini also discusses the chances of a trade war between the U.S. and China over yuan policy.

Nouriel Roubini : if Spain Goes Under it is a disaster

Greece is only a Eurozone problem , Spain is a global problem explains Nouriel Roubini

"If Greece goes under, that's a problem for the eurozone. If Spain goes under, it's a disaster," Nouriel Roubini, economics professor at the Stern School of Business at New York University, said at the World Economic Forum in Davos, Switzerland last month.
The Spanish economy, the fifth largest in Europe, has been mired in recession since the end of 2008 as the global financial crisis hastened a correction that was already underway in its once-buoyant property sector.

Roubini Others Will Follow Greek Tragedy

The debt overhang is threatening the global economy, Niall Ferguson, professor of history at Harvard University, told CNBC

Roubini Greece Is Bankrupt

By: Kim Khan
News Editor, CNBC.com
Are we concentrating too much on sovereign debt concerns? Not according to Nouriel Roubini, who can still live up to his pessimistic reputation.


“Greece is bankrupt,” Roubini told CNBC.com at WEF. “Look, they have to ask China to help them out.”

Greece is trying to get trying to entice China to buy 25 billion euros ($35 billion) in bonds, according to published reports Wednesday.

If the situation becomes dire enough the European Union will be forced to help bail Greece out because it’s such a threat to the monetary union, he said.
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