Eurozone Crisis

PIGS aren’t out of the woods yet

Published on 3 January 2011 at 16:47

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"How Roubini sees 2011," leads La Tribune, featuring an interview with the illustrious American economist who predicted the subprime crisis. Nouriel Roubiniforecasts that the new year will be marked by slower growth in industrialised countries, mounting inflation in emerging countries and, above all, greater monetary instability, which could prompt “the weakest members to leave the eurozone”. The economist stresses the need to persist in carrying through the “painful but necessary” austerity plans and reforms to cope with the sovereign debt problem, whether in Greece, Ireland, Spain or Portugal (the so-called "PIGS").

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