Roubini Says Irish Rescue Package Risks Deepening Debt Crisis

Nouriel Roubini, the New York University economics professor who predicted the financial crisis, said the Irish government’s rescue package aimed at saving its banks risks deepening the country’s debt crisis.

“Taking all of the losses of the banking system and putting them on the balance sheet of the government doesn’t make sense,” Roubini, co-founder of Roubini Global Economics LLC, said today in an interview from Cernobbio, Italy, with Maryam Nemazee on Bloomberg Television’s “The Pulse”. “Eventually, the back of the government will be broken.”