Yesterday Roubini, today El-Erian (PIMCO) talks about Euro TARP
Yesterday, Nouriel Roubini presented his 8 Urgent Steps to Prevent Depression open letter. One of his steps was:
Undercapitalized euro zone banks and banking systems should be strengthened with euro zone-wide public financing (Euro TARP)
Roubini: 8 Urgent Steps to Prevent Depression
In a worsening global economic climate, steps should be taken to avoid outright depression, said economist Nouriel Roubini, and among those steps are the postponement of austerity measures by nations able to do so and credit easing as well as quantitative easing.
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