- CNTV English - CCTV News

Roubini: Europe's growth close to nil

07-06-2010 12:02 BJT

Watch Video

Play Video

U.S. economist Nouriel Roubini is credited for predicting the financial crisis. He said recently that the euro zone growth in 2010 could be "closer to zero", after a volatile second quarter threatens to dash previous estimates of one percent.

Roubini says the currency bloc doesn't face a double-dip recession. That's despite deteriorating market confidence over economic growth, in an age of fiscal austerity. But he does expect the global economy to slow in coming months, as governments slash budget deficits.

He also predicts U.S. growth could slow in the second half of this year, to 1.5 percent from 3 percent in the first. Roubini's forecasts are based on the following: the stock market correction in the past three months, rising credit spreads and a jittery inter-bank lending market. All of these factors suggest there are serious concerns over economic growth at a global level.

Related stories

Editor:Xiong Qu |Source:

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program