Nouriel Roubini: Europe is falling into a deep recession that will lead to a world financial panic

[Better Believe It]

'Dr. Doom' Fears Another Financial Crisis Is Coming
by Marilyn Geewax
December 8, 2011

New York University professor Nouriel Roubini said Wednesday that Europe's debt troubles are so profound that the continent is falling into a "recession that will get worse and worse."

And a deep recession likely will lead to another financial panic that could spread around the world — an outcome that will be " very painful," he said.

"With Italy too big to fail, too big to save, and now at the point of no return, the endgame for the eurozone has begun," Roubini said in a recent written assessment.

He says a disorderly eurozone break-up would trigger a financial system shock as serious as the collapse of Lehman Brothers in 2008, if not worse.

Read the full article at:

http://www.npr.org/blogs/thetwo-way/2011/12/07/143307083/dr-doom-fears-another-financial-crisis-is-coming

Pay attention to Roubini. BBI