Tuesday, February 17, 2015

Eurozone: The Impact If Greece Leaves

The European Union is not going to survive as there are too many stresses and too many problems. If Greece pulls out, it will not be good. Immediately, there will be turmoil in the stock markets. But, over the longer period, it will be good for world stock markets and currency markets. Countries have been bailing each other out and that cannot happen all the time. The debt is going higher and higher in the global economy, and the next time if there is a world economic problem, it's going to be much worse. I hope that Greece should pull out of the European Union and default because the world cannot go out bailing every country. It will certainly cause pain, but the sooner you take pain, it will be better. One may remember in Scandinavia, there were debt problems. Many people got bankrupt and there was terrible pain, but after 2-3 years, Scandinavia emerged very strong and vibrant. - in Economic Times

Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).