"Nonetheless, the euro zone periphery shows little sign of recovery: GDP continues to shrink, owing to ongoing fiscal austerity, the euro’s excessive strength, a severe credit crunch underpinned by banks’ shortage of capital, and depressed business and consumer confidence. Moreover, recession on the periphery is now spreading to the euro zone core, with French output contracting and even Germany stalling as growth in its two main export markets is either falling (the rest of the euro zone) or slowing (China and elsewhere in Asia)." - in Live Mint
Related: iShares MSCI Italy Index ETF (EWI), iShares MSCI Spain Index ETF (EWP), iShares Germany ETF (EWG)
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.