US Dollar: Roubini Says Financial Problems In 2013 Will Be Much Tougher Than In 2008.
As reported by Market Leader (US)
Nouriel Roubini, the famous economist, says that all major economies around the world will se a serious slowdown. The major reason is that the weapons against financial problems are limited and almost exhausted.
Mr. Roubini is sure that the steps to save the needy eurozone economies are ineffective. The latest EU summit failed to work out efficient measures to resolve the eurozone crisis. Markets were disappointed by the ECB’s decision to cut the key interest rate by 0.25%. They lost 35 after the news. The Italian bond market looks unstable. The yield hase already exceeded 6%.
The ECB is the only financial institution that can solve the short-term problems – to monetize the debt liabilities. However, some Northern members of the EU disagree to pay for the risky economies. Read more...