Roubini: Austerity Measures Won't Go Through, And Markets Will Be Punished

Nouriel Roubini was on Bloomberg TV today discussing the sovereign debt situation in Europe and around the world. He remains unconvinced by the European bailout package and the likelihood governments will be able to combat the crisis.

  • 0:30 The problem of a the eurozone crisis has been contained by the bailout, but they must make cuts or it could expand; markets will remain volatile in the interim
  • 1:25 Markets are asking whether Greece can politically follow through on austerity
  • 2:30 UK, UK, and Japan all have similar sovereign debt crises, and the result could be inflation in the long run

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