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In CNBC Conversation's latest episode, Carolin Roth sits down with U.S. Nobel prize-winning economist Joseph Stiglitz to discuss the state of the European economy, among other current global news stories.

"I think the two biggest risks (to the euro zone currently) are the Italian situation and that will depend in part on how the European Commission handles that," Stiglitz tells CNBC.

"The other one is Greece. Europe pretended that they solved the Greek crisis a year ago. But actually the Greek economy has continued to go down; the medicine that they gave was the wrong medicine and was more dosage of the medicine that had not worked, and the country continues to sink further and further down the depression gets worse and worse."

Aside from the economic state of Europe, Stiglitz also weighs in on the upcoming U.S. presidential election, telling CNBC that a Donald Trump presidency would be "a nightmare", while giving his thoughts on the European Commission's recent ruling on the Apple tax case.

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