On Tuesday, the IMF announced a new set of measures designed to provide short-term liquidity to ailing nations, the latest in a series of measures aimed at stemming Europe's sovereign debt crisis.
But "money alone is not going to resolve the problems" in Europe, where the "contagion is spreading" far beyond the so-called periphery, according to New York economics professor Nouriel Roubini.
"The contagion has now gone viral, cross Atlantic and global." In Europe, the problems of Greece, Italy and Portugal have now spread to Italy, Spain and beyond. "Most ominously," Roubini notes, credit spreads are widening on the sovereign debts of France and Belgian among other "core" nations.
Read more: http://finance.yahoo.com/blogs/daily-ticker/roubini-europe-contagion-now-gone-viral-global-141320419.html#ixzz1ehoLFJXG
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