Monday, September 19, 2011

Roubini : Greece Should Default And Abandon The Euro

Nouriel Roubini : Greece should begin an orderly default, voluntarily leave the euro zone and return to the drachma in a bid to escape a vicious cycle of insolvency, low competitiveness and depression,

The recent debt exchange deal Europe offered Greece was a rip-off, providing much less debt relief than the country needed,

Its best current option would be to reject this agreement and, under threat of default, renegotiate a better one,... - in the Financial Times.

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