Tuesday, February 23, 2010

Ex IMF chief predicts more turbulance ahead

Former IMF chief says sovereign defaults will happen

Kenneth Rogoff, the former International Monetary Fund (IMF) chief economist, says numerous nations will default on their debts in the coming years. According to Bloomberg, Rogoff told delegates at a forum in Tokyo today that financial markets will continue to drive up bond yields meaning indebted European nations such as Greece and Portugal will “have a lot of troubles”. Rogoff, who is now a Harvard professor, said: “We usually see a bunch of sovereign defaults following bank crises, say in a few years. I predict we will again. It’s very very hard to call the timing, but it will happen.”

Posted by jack c @ 06:16 PM (1101 views)
Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>