Dr Doom: policymakers risk causing Euro 'depression'

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Nouriel Roubini has warned the eurozone faces a 'depression' if policymakers do not relax tough austerity measures.

The prize-winning economist said front-loaded austerity in the eurozone's debt-ridden states risked "turning a periphery recession into a depression". Roubini's comments come after the International Monetary Fund's chief, Christine Lagarde, and the eurogroup of finance ministers' Jean-Claude Juncker clashed on Monday over how long Greece should have to reduce debt to GDP ratios. Roubini, (pictured) speaking at a conference in Germany, said an extension to the timeline would be valid for Greece and for other peripheral countries that may need aid, such as Italy or Portugal. "We coul...

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