(During the Italian crisis, about the proposal of replacing Silvio Berlusconi with Angelino Alfano, as the new Prime Minister of Italy) Replacing Ber… - Nouriel Roubini

We cannot achieve price stability, maintain economic growth and have financial stability at the same time. So in the end we will have an economic and financial collapse.

The challenge we face is how to integrate the Muslim world into the global economy. Asia has become part of it, but not Africa or the Middle East.<p>One could realistically think about a Marshall Plan with respect to this part of the world, to succeed in integrating the Muslim and Arab world into the global economy as we did in Europe after World War II. For example, we’ve wasted hundreds of billions of dollars on the Iraq war. Had we taken a third of this money and invested it into a Marshall Plan for the Middle East, the benefits would have been ten times more than wasting it on a war.

I think globalization actually maintains and fosters various elements of national and cultural identities. I don’t think everything is being homogenized. If anything, your food, your culture, and your ethnicity might become part of the globalized world, and thus absorbed by other countries.