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Roubini holds little hope of global economic fix

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January 27, 2012 01:04 PM EST | AP


DAVOS, Switzerland — The economist widely acknowledged to have predicted the financial crash of 2008 holds little hope that global economic troubles will be fixed anytime soon and warns that without major policy changes things can still get much worse.

Nouriel Roubini, nicknamed "Dr. Doom" for his gloomy predictions in the run-up to the financial meltdown four years ago, said the fallout could last the rest of this decade.

Until Europe radically reforms itself and the U.S. gets serious about its own debt mountain, he said the world economy will continue to stumble along to the deteriment of large chunks of the world's population – who will continue to see their living standards under pressure, if they have jobs.

Roubini spoke in an interview late Thursday with The Associated Press on the sidelines of the World Economic Forum.