Posted on 10/25/2010 2:01:19 PM PDT by blam
PIMCO's El-Erian: Greece Will Default In 3 Years
Gregory White
Oct. 25, 2010, 4:28 PM
PIMCO's Mohamed El-Erian has been remarkably specific in his assertion of Greek default.
Speaking at The Economist's Buttonwood conference, El-Erian declared Greece destined for default in 3 years time.
El-Erian sees no way Greece can deliver on its 11% fiscal adjustment as it has never happened before.
Get ready, here's who gets slammed in a Greek default >
[snip]
(Excerpt) Read more at businessinsider.com ...
It’s about time. Doesn’t Greece default every 30 years or so? I think they are past due.
I believe it. The other thing I wonder is how long it will take the US to do the same thing and what they will call it when it happens. Head for the hills, people.
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