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samedi, novembre 12, 2011

Is Nouriel Roubini the Nostradamus of our economically challenged time ?




Is he the Nostradamus of our economically challenged time


Back in 2006, in a blog post Nouriel Roubini was already prophetic about Italy's debt crisis and the Eurozone doom prospects. The very same year Roubini’s speech at Davos-World Economic Forum was warning that Italy may experience Debt Crisis and EuroZone Break-Up in 5 years.

He recently reposted the blog post he wrote in 2006, after speaking at Davos, and apparently offended the already-then Italian Finance Minister Tremonti, by calling for Eurozone doom.

Here is an ominous extract of what the US economist contended at the time:
"And unfortunately, the lack of serious economic reforms in Italy implies that there is a growing risk that Italy may end up like Argentina. This is not a foregone conclusion but, if Italy does not reform, an exit from EMU within 5 years is not totally unlikely."
Read more on the topic:
Sources images: Nouriel Roubini Blog  & L'Internaute