Markets not reflecting U.S., European risks, Roubini says

03/4/2013 | Bloomberg Businessweek

Risks to the global economy should not be discounted even though they are not registering in world stock markets, which have been rallying in recent weeks, warned New York University's Nouriel Roubini. The economist notes particular danger in the eurozone's determination to proceed with economy-hobbling austerity measures. Across the Atlantic, meanwhile, "markets are underestimating how much the sequester and the gridlock in the United States could have negative effects on the economy and eventually on the market," Roubini said.

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