Roubini Says Euro-Area Crisis Spreading From Periphery to Core

Nouriel Roubini, co-founder of Roubini Global Economics LLC, said the debt crisis in the euro area is increasingly affecting the currency bloc’s biggest economies, Germany and France.

“The economic contraction used to be in the periphery of the euro zone,” Roubini said in a speech in Mainz, Germany, today. “It is spreading now to the core of the euro zone. For example, it is quite clear that France is entering a recession.”