Roubini: Europe's Economy Will Stop Growing As Soon As This Year

Nouriel Roubini

There’s slow growth and then there’s no growth.

Nouriel Roubini believes European economic growth will hit a brick wall by year’s end:

Reuters:

The currency bloc does not face a double-dip recession, however, despite deteriorating financial-market confidence over economic growth in an age of fiscal austerity, Roubini told a conference in Aix-en-Provence.

“Given the shocks of the last few months… by year-end, euro zone growth could be closer to zero per cent,” said Roubini.

Note though he’s not even saying there’s risk of a double dip recession, he’s just saying growth will basically end. For the U.S., he sees sluggish GDP growth of 1.5% in the second half, but at least a better situation than for Europe.

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