ISSN 2330-717X

Collapse Of Euro Possible, Claims Economist


By Nikita Sorokin

In 6 months’ time the eurozone will start breaking apart. It will become non-existent within the period of 3 to 5 years, a well-known American economist, Nouriel Roubini, said in an interview with the Moscow-based newspaper “RBC Daily”.

Meanwhile, experts are sure that there are circles in the USA that would welcome such a scenario and that Nouriel Rubini expresses their opinion.

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Professor Nouriel Roubini became famous after he predicted the mortgage crisis of 2008 in the USA. Now Roubini says that within the period of 6 months the Greek government will collapse and that Italy and Spain will loose access to capital markets approximately at the same time. As soon as this happens the eurozone will start breaking apart but it may happen that its main body, including Germany, Finland and the Netherlands, will remain intact. True, it will be impossible to call this entity the eurozone. Nouriel Roubini believes that Germany is to blame for the debt crisis as much as the Southern European countries.

Many experts found the forecasts of the American professor puzzling. The forecasts about the collapse of the dollar have been made since the year 2000, Director of the Institute of Globalization Problems Mikhail Delyagin said in an interview with the Voice of Russia.

“I’m very skeptical about such forecasts.”

Another well-known economist – the co-chairman of the Council on National Strategy Iosif Diskin – says that Roubini’s forecasts are none other than an outrageous exaggeration of the debt crisis risks.

“Roubini is doing his utmost to add more to his fame. He is closely linked with the conservative circles in the USA. An indecent attack on Russia involving juggling with facts has become the result of his activity. It is unworthy of a respectable scientist.”

Iosif Diskin believes that the economy of Europe will gradually become more strengthened. In any case, the European Union has all the necessary resources for the support of national banks and governments to prevent the collapse of the euro.

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VOR, or the Voice of Russia, was the Russian government's international radio broadcasting service from 1993 until 2014, when it was reorganised as Radio Sputnik.

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