Thursday, December 16, 2010

Default on Greece’s €110bn EU/IMF-sponsored package is inevitable

Greece can only recover if its debt is restructured, say economists

"Nouriel Roubini, the world-renowned economics professor known as Dr Doom, was in Athens last week with a message: the worst of the global financial crisis might be over but for Greece recovery could only occur with an "orderly restructuring" of its huge public debt. Although he is dismissed by some as a permanent pessimist, his prediction of a Greek default is gaining traction in the EU's most indebted nation".

Posted by alan @ 11:18 PM (1055 views)
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2 thoughts on “Default on Greece’s €110bn EU/IMF-sponsored package is inevitable

  • Mass default is a done deal, too much money involved.

    The demolition of currencies is underway as planned.

    We need a new system. Job done.

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  • Hmmm, haven’t people on HPC been saying this for a couple of years at least? Maybe some of these economists need to check out the threads here for a clue?

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