http://business.financialpost.com/2013/01/21/how-roubini-got-it-wrong-on-a-greece-eurozone-exit/
In this article, the author shows that the man famous for predicting economic crisis 'got it wrong' on Greece's situation in the Eurozone. Economist Nouriel Roubini was labeled a skeptic and 'Doctor Doom' when he correctly predicted that the housing market collapse would create a global recession. This time however he had predicted that Greece would exit the Eurozone by now.
Since this has not happened, and the fact that Europe is again stabilizing financially, we can conclude that Roubini was wrong. The reason for this, as explained by the author, was that Roubini could not have seen the support of the European community and the Greeks' ability to sacrifice short-term gains for long-term, bigger gains.
In this article, the author shows that the man famous for predicting economic crisis 'got it wrong' on Greece's situation in the Eurozone. Economist Nouriel Roubini was labeled a skeptic and 'Doctor Doom' when he correctly predicted that the housing market collapse would create a global recession. This time however he had predicted that Greece would exit the Eurozone by now.
Since this has not happened, and the fact that Europe is again stabilizing financially, we can conclude that Roubini was wrong. The reason for this, as explained by the author, was that Roubini could not have seen the support of the European community and the Greeks' ability to sacrifice short-term gains for long-term, bigger gains.
I like how this article touches on both the American Economy and the European Economy. I think it is a great article to post for this class because as we are taking a Macroeconomic approach towards learning this semester it is important to look at different economies around the world.
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