I may be best known for predicting the global financial crisis and the housing bust of 2008 — but I made another key economic prediction when I warned of major structural risks threatening the Eurozone in 2006.
My remarks proved as prophetic as I’d feared. The crisis I predicted then is still casting shockwaves through the world economy, and may do so for generations to come.
At the World Economic Forum in Davos, Switzerland that year, I said that imbalances in the Eurozone would come to a climax — which might lead to a disaster in Europe within 5 years.
I made my remarks at a panel discussion on the “Ups and Downs of EMU” (European Monetary Union). The panel included several key European finance officials — including Jean-Claude Trichet, who was then president of the European Central Bank (ECB).
via http://www.roubinisedge.com/nouriel-unplugged/9-ways-the-eurozone-is-more-fragile-than-the-us
