Nouriel Roubini Warns Of A Domino Debt Collapse In Europe

01/19/2011 05:12 am ET | Updated May 25, 2011
  • CNBC

But the nub of the crisis is this: "We have decided to socialize the private losses of the banking system. Now you have a huge increase in public debt--going from 7 percent to 100 percent of GDP. Soon it will be 120 percent."

And, turning more broadly to the rest of Europe, "Greece is already at 120 percent."

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