Roubini: France Has More Economic Problems Than Spain

Nouriel "Dr. Doom" Roubini tells FT:

In Europe, the pattern Mr Roubini has identified is a blurring of the lines between the core and the periphery. Traditionally the large, more industrialised economies such as France and Germany were perceived as less risky and more likely to achieve steady growth, with the unstable members in the periphery considered more likely to fall into depression.

Now, however, Mr Roubini’s analysis points to France as having greater challenges to surmount than Spain or Ireland. 

“The core versus the periphery is no longer a meaningful distinction,” says the professor, “because the eurozone periphery is improving faster.”

Roubini is very well connected. I think he is getting this from people very close to the situation.

-RW