'If Greece defaults, some other countries will default too .. But I would buy all the euro I could at that point because then that would mean that Europe is going to have a very strong, sound currency. People can not lie about their finances anyone, people have to run a tight ship.'<blockquote>'A Greece bankruptcy would actually be a good thing because it's time for people to acknowledge reality. If you’re bankrupt, go bankrupt, reorganize. Countries have been going bankrupt for centuries, there’s nothing new about it.
If Greece defaults, some other countries will default too—Italy, Spain, Ireland and a few others. If this happens the euro will go down a far amount. But I would buy all the euro I could at that point because then that would mean that Europe is going to have a very strong, sound currency. People can not lie about their finances anyone, people have to run a tight ship.
It would be a lot of pain between now and then, but boy if that happened in the next month or so, buy all the euros you can. -
in CNBC'
-
Eurozone Defaults & Euro FX Outlook, September 14, 2011</blockquote>
Context 'Greece should stay in the euro, but make them go bankrupt, make them stop spending, make the people who lent the money to the wrong people lose money.' - Jim Rogers (
Source, 2011)
<blockquote>
Europe. Economics & Energy - IT - Transport'Debt was the economic terror of the world when the war ended. How to pay it was the colossal problem. Yet you will find hardly a nation, hardly any subdivision of a nation, state, city, town or region that has not multiplied its debt since the war. The aggregate of this increase is prodigious, and a very high proportion of it represents recourse to credit to avoid payment of debt.'
- George F. Smith (
World War I - 'Debt was the economic terror of the world when the war ended..')</blockquote>