Thread: Faber: Portugal Debt Default Would Kill Euro

Faber: Portugal Debt Default Would Kill Euro

Wednesday, 20 Jan 2010 01:36 PM
By: Ellen Chang

Investors should expect to see more sovereign debt defaults, says Marc Faber, the editor of The Gloom Boom & Doom Report.

He said sovereign debt defaults occur after a financial crisis.

The countries to look out for now are Portugal, Ireland, Italy, Greece, and Spain.

Countries will have problems paying their debt, he told Yahoo Tech Ticker.

Portugal and other countries have a great likelihood of defaulting occurring even as soon as the next two years, he said.

Defaults from those countries could also kill the euro, Faber said.

Confidence in Greece is waning as its deficit rises and credit ratings are slashed, Reuters reported. Greek’s weak economy is affecting the euro.

“What is really crushing the euro is additional concern about the serviceability of the massive amount of debt rung up in Greece,â€

Top U.K. Economist Dumas: Euro Will Collapse

Wednesday, 20 Jan 2010 09:08 AM
By: Dan Weil

Charles Dumas, chief economist of esteemed Lombard Street Research in London, says the euro zone will definitely collapse.

“The longer it lasts, the more painful the ultimate exit will be,â€

Euro May Fall Into Greece's Black Hole

Tuesday, 19 Jan 2010 02:07 PM
By: Hans Parisis

The European Central Bank-Eurosystem has issued its legal working paper, dated December 2009, titled “Withdrawal and Expulsion from the EU and EMU: Some Reflections.â€