Sunday, February 26, 2012

Greece Must Quit Euro to Resolve Debt

Greece is likely to leave the euro and adopt its own currency next year to improve competitiveness and foreign trade, as it must achieve economic growth to resolve its sovereign debt burden, Kathimerini cited New York University Professor Nouriel Roubini as saying in an interview.

The only way to restore growth is through devaluation, which requires the return to a national currency, and there’s a “strong chance” this will happen in Greece by 2013, the Athens-based newspaper cited Roubini as saying in a preview of the interview to be published in tomorrow’s edition.

- bloomberg

No comments: