by Ron Haruni Wall Street Pit
Billionaire investor and chairman of Singapore-based Rogers Holdings, Jim Rogers believes that no country will exit the euro zone this year.
“I don’t think we’ll see anybody will leave the euro zone in 2012, there are 40 elections in 2012 there will be more problems this year. Governments everywhere will do their best to make sure we get through elections. Maybe in 2013 you should panic and certainly by 2014 you should be panicked but 2012 will be better,” Rogers told CNBC Monday.
Rogers, who calls the monetization of the EU debt a “horrible mistake”, added that he remains short on European equities.
“I would love for [Europe's policymakers] to say that ok it’s a disaster and for banks and shareholders to say they will take big losses. Everything would collapse and I would buy all the euros I could and all the stocks I could, but I don’t think that is going to happen,” Rogers said.
Full Rogers clip [starts minute 4:17]
Reprinted with permission from Wall Street Pit.
Jim Rogers has taught finance at Columbia University’s business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.
© 2012 Wall Street Pit