New York University Professor Nouriel Roubini discusses "greedy" bankers, the euro-zone crisis and risks facing the global economy in 2013
On Banking culture: He said, nothing has changed since the global financial crisis. Incentives of bank management is still aligned with getting superior results with cheating and immoral means. Only way to counter this is to break up these financial supermarkets. There are conflicts of interests as same banks are on the both sides of the deal and that is a fundamental problem and increases the risk. If this is not minimized financials crisis will keep on coming. People have to go to jails to change this culture which has not happened, atmost what happens is some fines is inflicted and that is not going to change the culture.
On European Crisis: EU summit was a failure. Spain yields are still high. Reality is market was expecting much more.