Showing posts with label Greek default. Show all posts
Showing posts with label Greek default. Show all posts

Tuesday, October 18, 2011

Italy and Spain need ‘bazooka’ to avoid insolvency: Roubini

A Greek default could trigger a global economic shock on the scale of that suffered after Lehman Brother Holdings Inc.’s 2008 failure, said Nouriel Roubini, chairman and co-founder of Roubini Global Economics LLC.

A disorderly default by a member of the euro area or an exit from Europe’s single currency bloc could cause a shock “that would reverberate through the global economy,” Roubini said at a seminar in Helsinki Monday organized by Evli Bank Oyj.