Roubini sees only one way out

Genevieve Signoret

Roubini writes in FT’s The A-List:

Only if the ECB became an unlimited lender of last resort and cut policy rates to zero, combined with a fall in the value of the euro to parity with the dollar, plus a fiscal stimulus in Germany and the eurozone core while the periphery implements austerity, could we perhaps stop the upcoming disaster.

Perhaps.

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