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Roubini Says Mideast Needs ‘Marshall Plan,’ Handelsblatt Says

Nouriel Roubini, the economist who predicted the global financial crisis, said a new Marshall Plan-style fund should be set up for North Africa and the Middle East to stabilize regional economies, according to an article he wrote in Handelsblatt.

Roubini the fund would be stocked by money from the International Monetary Fund, the World Bank and the European Bank for Reconstruction and Development, and would prevent a “deadly combination” of weak growth and sharply accelerating inflation, Handelsblatt reported.

The Marshall Plan ran from 1947 to 1951 and used U.S. funds to rebuild Europe in the wake of World War II.

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