Euro crisis far from over, US recovery weak: Stephen Roach

Global markets are not doing well and experts feel that the crisis is not over yet. Experts feel that one should learn to live with the pain as the bleeding is going to last long now.

In an interview to CNBC-TV18, Stephen Roach, non-executive chairman of Morgan Stanley Asia said that Euro zone crisis is far from over and may see further adjustments in global equity markets. Morgan Stanley has cut global GDP growth forecasts to 3.9% and 3.8% in 2011 and 2012 respectively. He further warned that both the US and Euro are hovering close to recession. Talking about the emerging markets, Roach noted that it is unlikely to see export led recovery in EMs as it is dependent on demand in developed world.