The euro needs to sink to parity with the US dollar in order to restore Europe’s peripheral economies to growth, Nouriel Roubini, the economist known as “Dr. Doom” for his bearish predictions, told CNBC Friday. Roubini added that markets are “schizophrenic” at the moment, as they cannot decide whether to reward or punish countries such as Spain and Italy for their austerity plans. “There’s this vicious circle with the deficit that doing austerity makes the recession worse,” he said. “Without growth, the socio-political backlash will become overwhelming for some governments.” On Friday, euro zone finance ministers are ... (full story)