Friday, April 24, 2015
Greece is Bankrupt & Should Default
Greece is bankrupt and should default, well-known investor Marc Faber told CNBC on Friday. "Even if Greece grows at 10 percent per annum for the next ten years, it will not be able to pay its debts back. It's bankrupt. We better face the reality and not kick the can the can down the road. Greece should default," Faber said. But he added that while Greece could leave the Eurozone and adopt a parallel currency, geopolitics are coming into play and there is no appetite in Europe to let the country exit from the single currency bloc.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki