Nov 11, 2011

Italy: If You Cannot Devalue Or Grow, The Only Option Is To Give Up On The Euro

So if you cannot devalue, or grow, or deflate to a real depreciation, the only option left will end up being to give up on the euro and to go back to the lira and other national currencies. Of course that will trigger a forced conversion of euro debts into new national currency debts. - in forbes

Related stocks and ETFs, Ishares Msci Italy Index (EWI), Intesa Sanpaolo SpA (BIT:ISP), UniCredit SpA (BIT:UCG), Banca Popolare di Milano (BIT:PMI)

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.