Nouriel Roubini agrees with a greek bailout but he thinks the best solution would be an IMF program:
"It is a step in the right direction even if my favored choice for Greece is to get a formal IMF program. IMF lending is based on conditionality of achieving certain fiscal and structural goals. In the case of loan guarantees, it's very hard to make those loan guarantees conditional...you either give them—or don't give them."
But Nouriel Roubini said the problems in Greece are only the "tip of the iceberg" and that the high public deficit and loss of external competitiveness is shared by Spain and Portugal. So contagion can be an issue going forward.
Related stocks: National Bank of Greece (ADR) (NBG)
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