Economist Nouriel Roubini says economic problems in euro zone members such as
Greece and Spain could tear apart the European Monetary Union.
“Down the line, not this year or two years from now, we could have a breakup of the
monetary union,” the New York University professor says.
Greece has a budget deficit that totals 12.7 percent of GDP, far above the 3 percent limit mandated by the European Union.
The EU has become an economic and trading force. Greece's problems have been well documented. Spain has had double digit unemployment for years.