Nouriel Roubini: There’s Only One Thing That Will Stop The “Upcoming Disaster” In Europe
November 10 — Only if EU leaders make the European Central Bank the lender of last resort, implement a fiscal stimulus, and make sure the ECB cuts rates to zero will the euro avoid a meltdown and probable break-up, Nouriel Roubini writes in an op-ed published in the FT this morning.
His article expands upon a series of tweets yesterday and reiterates his conviction that the European rescue fund—the European Financial Stability Facility—and the special purpose vehicle intended to leverage it are merely "turkeys" that "will not fly." Read more.
