If implemented, the last-gasp deal to keep Greece in the euro zone should allow the region’s economy and markets to regain the momentum they showed earlier this year by removing an existential threat to the 19-nation-bloc, economist Nouriel Roubini said on Monday.
The agreement, despite its imperfections, shows that Europe will ultimately pull together, even to try to help its weakest link, said the professor of economics and international business at the Stern School of Business, New York University.
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If there had been a ‘Grexit’ – Greece exiting the euro zone – a “fundamental repricing” of euro zone assets would have been appropriate, said Roubini, the man known as “Dr Doom” who was among the few to predict the U.S. housing crash that triggered the global financial crisis…. READ MORE
Financial Express by Reuters
