‘Remarkable improvement’ in Greek economy

Nouriel Roubini can't seem to shake the nickname "Dr Doom," but his predictions are usually gloomy. This reputation was confirmed in a discussion with Kathimerini on the sidelines of the Delphi Economic Forum, where he was one of its pre-eminent guests.

But when it comes to the Greek economy in particular, the respected Turkish-born, Iranian-American economist and professor emeritus at the Stern School of Business of New York University has reason to be optimistic.

We've been hearing for a while about a correction coming in the market. Why isn't it happening?

Well, a correction did occur last year. US and global equities were down: S&P by 15, Nasdaq by 30, and tech and growth stocks by more than that. Even bond prices fell sharply as yields were going higher and lots of other risky assets were down in value. There was a recovery this year, and...