Roubini: Eurozone restructurings will leave bondholders facing losses
Government debt levels in peripheral Europe mean restructurings cannot be avoided, economist Nouriel Roubini tells Credit magazine.
Socialising the liabilities of its most indebted member countries is not a solution to the Eurozone’s debt crisis, according to Nouriel Roubini, professor of economics at New York University and founder of consultancy Roubini Global Economics.
Instead, Eurozone countries facing debt burdens they are unable to meet will need to undergo debt restructurings, forcing bondholders to incur haircuts or equity conversions, noted Roubini, former senior economist for international affairs at the White
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