{"id":246035,"date":"2010-01-29T06:14:57","date_gmt":"2010-01-29T11:14:57","guid":{"rendered":"http:\/\/www.businessinsider.com\/spain-is-the-real-problem-roubini-29-1-2010"},"modified":"2010-01-29T06:14:57","modified_gmt":"2010-01-29T11:14:57","slug":"roubini-a-greek-bailout-solves-nothing-since-spain-is-the-real-time-bomb-that-will-destroy-the-euro","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/246035","title":{"rendered":"Roubini: A Greek Bailout Solves Nothing Since Spain Is The Real Time Bomb That Will Destroy The Euro"},"content":{"rendered":"

\"nouriel<\/p>\n

As the world remains fixated on the financial problems of Greece, Nouriel Roubini warns that Spain is actually a far larger and deadly financial time bomb.<\/p>\n

The Spanish economy is so enormous relative to Greece that a major financial crisis there would easily destroy the euro currency union:<\/p>\n

Irish Independent:<\/a> “Down the line — not this year or two years from now — we could have a break-up of the monetary union. It’s a rising risk,” he said. “The eurozone could drift, essentially with a bifurcation, with a strong centre and a weaker periphery, and eventually some countries might exit the monetary union,” he warned.<\/p>\n

For all the focus on Greece, however, he also said that Spain may eventually pose an even bigger threat to the eurozone because it is the region’s fourth-largest economy and has higher unemployment and weaker banks. “If Greece goes under, that’s a problem for the eurozone. If Spain goes under, it’s a disaster,” he said.<\/p>\n

If Roubini’s warning is true, it would mean that a Greek backstop by Europe solves nothing. The euro as a currency would still have massive threats ahead regardless. Read more here ><\/a><\/p>\n

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