Sunday, June 10, 2012

MARC FABER: The Best Outcome For Greece Would Still Be Absolutely Horrible For The Greeks

Marc Faber : The best outcome for Greece probably would be to exit the euro zone. But the new Greek drachma would depreciate by 50% to 70% against the euro. The Greeks don't want their pensions paid in a depreciating currency. Nor do they want austerity, as their pensions and government salaries would be cut by 50%. " Marc Faber explains in the new issue of Barron's


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