Monday, February 14, 2011

Roubini Warns on PIIGS

The very connected Nouriel Roubini thumbs:
Portugal on verge of losing market access; Irish bailout in trouble; WestLB rescue in trouble. So much for Eurozone crisis being contained
Roubini can be way off on the economy because of his Keynesian analytical view of the world, but when it comes to economic gossip, the man knows of what he speaks. Take the above warning very seriously. Most alarming is his comment on WestLB AG, which is a European commercial bank based in Düsseldorf, Germany that is partly owned by the German state of North Rhine-Westphalia.

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