Dr Doom: Policymakers risk causing 'depression' in Europe


Nouriel Roubini has warned the eurozone faces a 'depression' if policymakers do not relax tough austerity measures.

The prize-winning economist said front-loaded austerity in the eurozone's debt-ridden states risked "turning a periphery recession into a depression". Roubini's comments come after the International Monetary Fund's chief, Christine Lagarde, and the eurogroup of finance ministers' Jean-Claude Juncker clashed on Monday over how long Greece should have to reduce debt to GDP ratios. Roubini, (pictured) speaking at a conference in Germany, said an extension to the timeline would be valid for Greece and for other peripheral countries that may need aid, such as Italy or Portugal. "We coul...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week