Monday, July 6, 2015
Marc Faber on Grexit : Greece is an irrelevant country in Global Economy
" Greece is an irrelevant country in global economy. It’s less than 2 percent of global GDP. Economically it has no impact. However the impact, this is the problem for whole world, is that the global financial system is far too big for the real economy, and so whenGreece defaults, it may threaten some institutions like the International Monetary Fund, the European Central Bank, and the banking system. This is the issue. If such a small country can have such a huge impact on the financial system, it means the financial system is very fragile. That’s the problem in my view," - in Anadolu Agency
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