Davos Doom Loses to Merkel-Draghi as Euro Defies Roubini

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Davos Doom Loses to Merkel-Draghi as Euro Defies Roubini

Dr. Doom got it wrong.
The parade of economists and investors led by Nouriel Roubini predicting Greece’s ejection by now from the euro zone failed to appreciate the resolve of European policy makers to protect their union and the amount of pain Greeks are willing to stomach.

“People underestimated these factors,” Roubini, chairman of New York-based Roubini Global Economics LLC, said in a telephone call 12 months after predicting Greece’s exit in remarks to the 2012 World Economic Forum’s annual meeting in Davos, Switzerland. A Greek departure “is certainly a less likely event this year, although not a zero probability.”

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