“The euro zone is undergoing serious socio-political fragmentation which could lead to further de-stabilization in the bloc, Nouriel Roubini warned Friday.
Speaking at the Ambrosetti Workshop in Italy, Roubini, renowned for his pessimistic economic forecasts said the political situation in Italy was a “tsunami” risk and was a reflection of the broader problems facing the currency bloc.
“In Italy there’s the beginning of a political storm. The result of the Italian elections signal that the majority of people are against austerity and not just in Italy also in Lisbon half a million people were in the streets and 25 percent unemployment in Greece and Spain, 50 percent amongst young people and there is restlessness,” Roubini said.
Italy’s election last month failed to give any party an outright majority and so far the leading center-left bloc has been unable to muster up a coalition government….”
If you enjoy the content at iBankCoin, please follow us on Twitter
