Likely Breakup of the Euro Zone, says Roubini

Spain, including Greece and Ireland, are facing massive debt burdens but their membership in the euro zone prevents them from devaluing their currencies in an attempt to export their way out of their problems.

"Down the line, not this year or two years from now, we could have a breakup of the monetary union," Roubini tells Bloomberg.

"The euro zone could drift essentially with a bifurcation, with a strong center and a weaker periphery and eventually some countries might exit the monetary union."