GO
Loading...

Roubini: Portugal Should Consider Rescue

Economist Nouriel Roubini says Portugal should consider asking for a bailout before its financial plight worsens.

Nouriel Roubini
ChinaFotoPress | Getty Images
Nouriel Roubini

Roubini, a professor of economics at New York University who predicted the financial crisis, told daily paper Diario Economico it is "increasingly likely" Portugal will require international assistance.

He said in an interview published Monday there are ample funds to shore up Portugal, one of the euro zone's smaller countries which contributes less than 2 percent to the 16-nation bloc's gross domestic product.

Roubini said Portugal is approaching "a critical point" due to it high debt load and weak growth.

But he said neighboring Spain, Europe's fourth-largest economy, is "too big to bail out."

Contact Europe: Economy

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More