NYU's Roubini Sees Risk of `Severe Global Depression'Submitted by Rhonda15 on Fri, 10/10/2008 - 16:12
NYU's Nouriel Roubini Sees Risk of `Severe Global Depression' with a generalised run on the banking system. He suggests that there is an immediate requirement (this weekend) for a temporary blanket guarantee on ALL deposits in the US, Europe and other advanced economies. Those banks which should be rescued will need to be recapitalised by the governments.
Perhaps Berlusconi wasn't far off the mark?