Tags: Roubini | Fiscal | Austerity | Recession | eurozone

Roubini: Fiscal Austerity Will Make a Recession More Severe

Wednesday, 21 Sep 2011 03:32 PM

Fiscal austerity measures being practiced in the eurozone will make a recession more severe, Nouriel Roubini, co-founder and chairman of Roubini Global Economics LLC, said in a presentation in Johannesburg.

“In the short term raising taxes and cutting government spending has a negative effect on growth,” Roubini said.

Restoring growth in some parts of the eurozone is “mission impossible,” he said, adding that the region’s policy response has been “inadequate.”


© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
StreetTalk
Fiscal austerity measures being practiced in the eurozone will make a recession more severe, Nouriel Roubini, co-founder and chairman of Roubini Global Economics LLC, said in a presentation in Johannesburg. In the short term raising taxes and cutting government spending...
Roubini,Fiscal,Austerity,Recession,eurozone
70
2011-32-21
Wednesday, 21 Sep 2011 03:32 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved