Notice the reporter tries to get him to put a positive spin on his comments. Doesn't work, but Roubini is wrong, in my opinion about his depression comments. In my opinion we will only avoid depression via government statistic manipulation. If the statistics were kept in the same manner as past data, there is no doubt we would get there. Also keep in mind that there is no firm definition of economic "depression."
Roubini only talks for first half...
Roubini on Bloomberg (5 minutes):
Spain's Bad Bank "FROB" Admits More Taxpayer Bailouts Likely
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