American economist Nuriel Rubini, who predicted the 2008 crisis, believes that in 10 years the most serious debt crisis may occur.
The expert expressed such an opinion in an interview with the Spanish newspaper El Mundo.
“We are approaching a turning point that will change the life of creditors and borrowers, whether it is state or private, – he noted.“ Through a decade, we can encounter the mother of all debt crises. “
Rubini drew attention to the fact that Spain, like most European countries, has a large state and private debt.
According to him, “state bodies are burdened with debts, and, as in many countries, there is also an increase in the debt of enterprises and the shadow banking system.”
The economist also drew attention to the “aging of the population” of Spain and the need to soon conduct a pension reform in this regard.
“Politics implies victims in the short term for the sake of general well -being in the long run, – he believes.” It does not matter whether you live in democracy or autocracy: the political economy is to give a kick a problem as if it were a canned bank that you found on the street. “