Nouriel Roubini Warns Greece is Just The ‘Tip of The Iceberg’!

• Greece will be bailed out, no doubt about that. The talk is a bailout package of $120-$135B Euros spread over 3 years. Think about it for a moment: if Greece cannot pay its debts, you lend them even more at a higher interest rate and call it a bailout. The MSM sings: We are all safe and everything is ok. What do you think? How likely is Greece going to pay back the loans after a few years? This is a bankster engineered crisis!
   
• Can the people accept economic depression and eat grass to survive while all available money is sucked dry to pay the banksters? Greece is being sold to slavery to the banksters. Of course, the people must bailout the banksters and give them unlimited monies or the world will end. Will the banksters forgive the debts of the people, debts that were dumped on them by the banksters in the first place? This is just another scam! Bankster debts have been dumped onto sovereign nations and banksters are making the sheeple pay for it.
   
  Greece is just the “tip of the iceberg” of a sovereign debt crisis that has the potential to derail a global recovery, Nouriel Roubini has warned.
  Professor Roubini, the New York-based academic who was one of the few to anticipate the scale of the financial crisis, told a panel in California that the buildup of debt is likely to lead to countries defaulting or resorting to inflation to ease the burden on their populations.
   
  “While today markets are worried about Greece, Greece is just the tip of the iceberg,” Roubini told the Milken Institute Global Conference in Beverly Hills, California. “The thing I worry about is the buildup of sovereign debt.”
    
  Although Greece’s misreporting of the scale of its own debt has helped shatter investors’ faith, the southern European country is not alone in its struggle. The depth of the property bust in both Spain and Portugal has prompted the ratings agency Standard & Poor’s to downgrade the creditworthiness of both.
   
  European leaders, led by German chancellor Angela Merkel, the International Monetary Fund and Greece’s leaders are scrambling to approve a bail-out for Greece as financial markets drive its borrowing costs higher.
   
  “The ripple effects across the market are now more visible,” said Ciaran O’Hagan, an analyst at Societe Generale. “Contagion is amplifying.” Italy’s sale of up to €8bn euros of debt today will, according to analysts, provide a good gauge of whether the concerns about Greece and Portugal are spreading to other members of the Eurozone.

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