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Re: What Henry Kissinger said about Greece in 1974
Originally Posted by PatriotsReign
I would be more than adamantly against a single US dollar going to bail out any foreign nation. But I can hear it now..."If we don't do this, our society and our way of life may be jeopardized"...that would be a load of crap.
About a year ago, people on this very board were predicting that the US economy would be the first to fall. They said our currency would collapse. I wrote that many, many countries would fall before the US would.
Not saying I was right....BUT....
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"Greece is going to have to undergo a massive bailout, which Germany's hesitant to give, or some sort of default," said Carbacho-Burgos.
Although the idea of a default spooks investors, who recall the Argentine debt crisis earlier in the decade, Carbacho-Burgos said an orderly default, managed by the European Union and International Monetary Fund, would be more likely.
"I don't think there would be [a unilateral default]," he said. "That typically happens when there's a change in government, but Greece's prime minister is relatively new and has shown commitment to service debt with help from a bailout."