Jim Rogers Believes Greece Should Go Bankrupt
Commodities legend Jim Rogers talks in this Bloomberg interview about Greece's fiscal problems which needless to say are hardly a new development. According to Rogers, a bankruptcy for Greece would benefit the euro.
They should let Greece go bankrupt, said Rogers. It would be good for the euro. It would be good for Greece. It would be good for everybody. If Greece went bankrupt then everybody would say, boy, the euro is serious, is going to be a sound currency and the euro would go straight up. Is not gonna happen that way, but that's what should happen.
Rogers also said he didn't believe that speculators and hedge funds are behind the euro's fall. In fact, says Rogers, the main people who are selling in Greece are Europeans because they see the massive problems the country's economy is facing.
Reprinted from the Wall Street Pit.
March 9, 2010
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.
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