Greece will be forced to restructure its debt but this will happen in an orderly manner, Nouriel Roubini, professor of economics at New York University, said Friday.
Speaking at the 50th ACI World Congress of foreign-exchange specialists in Budapest, Roubini said “reason will prevail and we will get an orderly restructuring of Greek debt.”
He added that Greece’s austerity program was “off track” and that there was little sense in authorities throwing good money after bad by bailing out Greece further.
Roubini said that a restructuring of Greek debt would not cause Spain to lose access to the capital markets.
(source: Dow Jones)
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