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nouriel roubini
Nouriel Roubini

REUTERS/Mike Segar

  • Credit Suisse could fold if Europe's central bank raises interest rates as planned, Nouriel Roubini warned.
  • "If ECB hikes by 50bps it is possible that CS goes bust over the weekend," the "Dr. Doom" economist said. 
  • Shares in the scandal-hit Swiss bank tumbled Wednesday as fears grew of a banking crisis.

Credit Suisse could fold if the European Central Bank (ECB) follows up on its planned hike in interest rates, "Dr. Doom" economist Nouriel Roubini has warned. 

The struggling Swiss banking giant came under pressure Wednesday after its biggest shareholder, the Saudi National Bank, said it wouldn't able to inject more cash into the lender. The chance Credit Suisse could default on its debt alarmed investors, sparking a steep selloff in its shares.

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Markets, MI Exclusive, Stocks, Nouriel Roubini, Credit Suisse, Credit Suisse stock, SVB, Silicon Valley Bank collapse, Signature, Silvergate Bank, ECB, ECB decision, Rate Hikes, Inflation
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Credit Suisse could go bust if the ECB follows up on its rate hike promise, 'Dr…