Economist Nouriel Roubini Tweets About Greece’s Election Results

Well-known American economist Nouriel Roubini commented on the Greek election outcome on his Twitter. He appears certain that Greece is on the verge of financial collapse and that Greece’s exit of the Eurozone is a matter of time.

The results of May 6 elections have made the famous economist point out that Greece will not be part of the Eurozone for a long time.

“Results of the Greek elections increase probability that Greece will leave the Eurozone by next year,” he wrote, enhancing his predictions by adding statistical data: “I have been saying for two years now that Greece is highly likely to exit the Eurozone. Now Citi says that probability is 50-75% by end 2013.”

“Greece is in political chaos while the recession becomes a depression. It looks like a train wreck leading eventually to default and exit.”

He also noted that “Votes in Greece, France and Germany signal an anti-incumbent revolt and austerity fatigue.”

“French and Greeks vote against the Austerians as the Eurozone recession becomes deeper and more severe,” he continued.

Roubini seems to wonder if “SYRIZA could lead an anti-bailout government in Greece,” and expresses his conviction that a second voting round is possible: “Greece cannot be governed when parties against austerity and the policies needed to keep the Euro got 66% of the vote. New elections likely.”

He also expresses concerns over a possible “contagion” to the rest of the EU and remarks that, “Results of Greek elections (are) much more serious than the French one as the former leads to chaos while Hollande will turn out to be  moderate.”


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