Oct 18, 2011

Europe Is Still A Disaster. The Crisis Has Spread.

"Unless you have economic growth in the area you're not going to solve the euro-zone crisis, warning of a potential global economic crisis.

It's not about Greece anymore. The crisis has spread to Spain, Italy and even Germany.

Europe is still a disaster zone and the likelihood that a weaker country will exit the union is still high. In case of a disorderly default, we're going to have a global economic crisis and a recession in developed economies. We are running out of policy options. - in The WSJ.com

Tickers, iShares MSCI Spain Index ETF (AMEX:EWP), iShares MSCI Germany Index Fund ETF (AMEX:EWG), iShares MSCI Italy Index ETF (AMEX:EWI)

Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.