Roubini: EU Greece Bailout only a Band Aid

Nouriel Roubini on CNN Money May 12, 2010

May 12, 2010 — Roubini has little confidence that the EU bailout of Greece will ulitimately solve its sovereign debt problems.

Roubini on The $1 Trillion EU rescue Package to Greece

Roubini Discusses $1 Trillion European Loan Package

Nouriel Roubini : The IMF is expecting three more years of recession in Greece most likely you will have recession in Spain in Portugal in Italy and the question is political again : can you afford have several years of recession and deflation there may be at some point a backlash against it three of these countries have also lost competitiveness in the last few years , they are losing market shares to China and Asia because their exports are labor intensive then for a decade their wages are growing faster than the productivity , and the final nail in the coffin was the appreciation of the Euro between 2000 and 2008 , so even if they stabilize their public debt how are they going to reduce their larger currency deficit..., it is going to be ugly in terms of fiscal austerity in terms of structural forms in terms of anemic growth if not recession therefore there is money on the table but it is all conditional on doing very painful sacrifices , I feel that some countries like Greece are not going to be able to do it , that eventually they are going to have a restructuring of public debt .....
May 11 (Bloomberg) -- New York University professor Nouriel Roubini, chairman of Roubini Global Economics LLC, talks with Bloomberg's Carol Massar and Matt Miller about the $1 trillion European loan package to help stop the sovereign-debt crisis. (This is an excerpt of the full interview. Source: Bloomberg)

Roubini Sees risk of contagion spreading to US

Nouriel Roubini on the Greece bailout

May 09, 2010 — European Union ministers agree to emergency aid worth 500 billion euro to prevent Greece's debt crisis causing turmoil in other euro zone states.

Nouriel Roubini : Greece problems are only The tip of the iceberg

Roubini Greece Bailout is a step in the right direction

Nouriel Roubini thinks that the Greece bailout by the European Union is a step in the right direction althout he would have preferred for Greece to go through a formal IMF structural Program . Roubini also believes that the Greece problems are only the tip of a bigger iceberg , the rest of the PIIGS countries are not in a better shape than Greece , Portugal and its neighbor Spain may soon come to Brussels to ask for their bailouts too following Greece footsteps
"It is a step in the right direction even if my favored choice for Greece is to get a formal IMF program," Nouriel Roubini said
"IMF lending is based on conditionality of achieving certain fiscal and structural goals. In the case of loan guarantees, it's very hard to make those loan guarantees conditional...you either give them—or don't give them." Roubini added ...
Source CNBC