Bloomberg News

Roubini Calls for Expansion of Euro Rescue Fund, Stern Says

October 12, 2011

Oct. 12 (Bloomberg) -- Nouriel Roubini, the co-founder and chairman of Roubini Global Economics LLC., said European leaders have to increase the size of the region’s rescue fund to at least 2 trillion euros ($2.8 trillion) by early November to safeguard Italy and Spain, German magazine Stern reported, citing an interview.

It’s the responsibility of German Chancellor Angela Merkel to prevent a crash of global financial markets and a world recession by acting speedily to expand the European Financial Stability Facility, even if it jeopardizes Germany’s AAA rating, Roubini was quoted as saying.

To contact the editor responsible for this story: Jana Randow at jrandow@bloomberg.net


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