Mar 13, 2012

Portugal Will Be Next to Default, Greece to Leave Euro

Greece will be the first country to exit the eurozone, not this year but maybe later next year, but in order to restore growth, competitiveness and external balance they need the real depreciation.

In terms of debt restructuring after Greece, I think Portugal is the more likely that is going to require a debt restructuring and maybe eventually an exit like Greece. - in CNBC

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.