BLOOMBERG/ OPINION/ “While money is available now on the table, all this money is conditional on all these countries doing fiscal adjustment and structural reform,” economist Nouriel Roubini told Bloomberg. “Whether they’ll be able to do it fast enough over time is going to be an open question.” And... “In the short term, raising taxes and cutting spending is going to imply further recession and further deflationary pressures in the euro zone,” Roubini said. “For the last few months, the European Union looked behind the curve, they couldn’t get their act together,” he said. “Now that we are on the verge of a precipice, they realized they had to pull resources together, act together, otherwise the risk was the collapse of the euro zone, the collapse of the euro.”
Posts