European economy will stop growing as soon as this year!
NEW YORK - July 4, 2010 - There's slow growth and then there's no growth. Nouriel Roubini believes European economic growth will hit a brick wall by year's end.
The currency bloc does not face a double-dip Depression, however, despite deteriorating financial-market confidence over economic growth in an age of fiscal austerity, Roubini told a conference in Aix-en-Provence.
"Given the shocks of the last few months... by year-end, euro zone growth could be closer to zero percent," said Roubini.
For the U.S., he sees sluggish GDP growth of 1.5% in the second half, but at least a better situation than for Europe.
