Brexit could be the beginning of EU's disintegration, says Roubini

DAILY SABAH WITH REUTERS
ISTANBUL
Published 27.06.2016 12:31
Updated 27.06.2016 12:57
emReuters Archive Photo/em
Reuters Archive Photo

Britain's decision to leave the European Union could be the beginning of the disintegration of the bloc of countries or the United Kingdom, said Nouriel Roubini on Sunday, the economist who earned the nickname "Dr.Doom" for predicting the collapse of the U.S. housing market and global recession in 2008.

"I think the impact of Brexit is significant but not of the same size and magnitude of the one we had 2007 to 2009," he said.

People should not expect a recession or financial crisis in the wake of the "Brexit" vote, said Roubini, speaking at the World Economic Forum in China's northern city of Tianjin.

China's finance minister Lou Jiwei said in Beijing that the vote marked the inception of a 'period of uncertainty' for the global economy that could last five to ten years.

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