Quantcast
Other Stories

Nouriel Roubini, the noted economist who correctly predicted the 2008 financial crisis, has predicted that the US, Europe and UK are on the verge of recession and it may occur within the next two quarters

12 Oct 2011

NEW YORK (Commodity Online): Nouriel Roubini, the noted economist who correctly predicted the 2008 financial crisis, has predicted that the US, Europe and UK are on the verge of recession and it may occur within the next two quarters.

"The question is not whether or if there is going to be a double dip, but whether it's going to be mild or severe with another financial crisis. The answer on that depends on the euro zone”, Roubini said in a CNBC interview.

The European debt crisis could snowball into a shock much bigger than the Lehman Brothers of 2008 and the government needs to pull its socks and take concrete measures before the G20 meeting in November.

Roubini believes that the European Financial Stability Fund (EFSF) should be expanded 4 times its capacity from the current 440 billion Euros to around 2 Trillion Euros.

Nouriel Roubini is well known for correctly predicting the crash of the United States housing market and the financial collapse of 2008. He is the chairman of Roubini Global Economics, an economic consultancy firm.


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED