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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 Greeceā€™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.

ā€œResults of the Greek elections increase probability that Greece will leave the Eurozone by next year,ā€ he wrote, enhancing his predictions by adding statistical data: ā€œI 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.ā€

ā€œGreece is in political chaos while the recession becomes a depression. It looks like a train wreck leading eventually to default and exit.ā€

He also noted that ā€œVotes in Greece, France and Germany signal an anti-incumbent revolt and austerity fatigue.ā€

ā€œFrench and Greeks vote against the Austerians as the Eurozone recession becomes deeper and more severe,ā€ he continued.

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

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

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