RSS Feed
September 19th, 2011 
FAKE NEWS for the Zionist agenda 
Business Insider
Sept 19, 2011
Dr. Doom has given up hope for Greece.
In an FT piece, he says it’s time for Greece to default and abandon the euro.
The basic idea — which he outlined in a research piece a piece on Friday — is that Greece under the euro will lead to years and years of more depression and deflation. Even a restructuring of Greek sovereign debt won’t save the country, because it’s not competitive under the euro system, and it can’t grow. It needs currency devaluation, which the euro won’t allow for.
So the game is to default now, rip off the cord, default, and go back to the drachma.
Of course, the game then is to prevent total economic implosion:
Avoiding a banking system implosion after an EZ exit would entail, unfortunately, the imposition of Argentine-style measures—such as bank holidays (deposit freeze) and capital controls—to prevent a disorderly fallout; realistically, lots of collateral damage would occur, but this could be managed and limited. Banks could be recapitalized by the government through the issuance of recapitalization bonds; while this recapitalization would initially increase public debt, the reduction in public debt from a significant default would give some fiscal margin to achieve such recapitalization.
As for the rest of Europe, he’s confident that a Greek default can be done in an orderly, negotiated manner that doesn’t cause huge ripple effects.
We doubt the rest of Europe feels so sure about that.
Bookmark on Delicious- Digg this post
- Recommend on Facebook
- share via Reddit
- Share with Stumblers
- Tweet about it
- Subscribe to the comments on this post
- Print for later
- Bookmark in Browser
- Tell a friend
4 Responses to “Roubini: Greece Should Default, Leave The Euro”
Leave a Reply
You must be logged in to post a comment.
Posted in 
Tags: 
mighty Jesuit her dictatorial puppet bankers bankrupt takeover the whole europe.
Europe back in the dark age.
Greece definitely needs to default, so that other countries can default and get out of the Euro. This will be a good thing! Euro was a designed plan by bankers to systematically fail and have those countries lose their sovereignty, if Greece is smart, they will default and go back to Dravhma. Then Italy, Spain, Portugal, Ireland and others will follow suit.
Agreed, should not have joined in the first place, greedy globalist fools to blame with their sick money grabbing, soulless agendas………
I wish them the best of luck.