Portugal is likely to be the next to restructure its debt and exit the euro zone, economist Nouriel Roubini predicted on CNBC Friday. There are several euro-zone countries in trouble, including Italy and Spain, but Roubini sees Portugal as the weakest.
The longtime bear and chairman of Roubini Global Economics said the Greek bond swap and resulting declaration of default — triggering insurance payouts — is "overall a positive."
But on the ground in Greece, it's a different story. With unemployment at 22 percent and half the nation's youth unemployed, "the contractions are becoming severe. The country is still insolvent."
He goes so far as to predict that Greece "will be the first country to exit the euro zone, not this year, maybe later next year."
Read all about it at http://www.cnbc.com/id/46685944
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