Monday, February 23, 2015

Why Greece will never repay its debt

It's not just Greece. Finger pointing distracts us from the fact that very few governments do.

Headline: Why Greece will never repay its debt

European officials should accept that Greece may never repay its $366 billion debt, analysts told CNBC, even if the troubled economy secures a bailout extension.

Greek debt is not repayable in this life, Kingsley Jones, founder and CIO of Jevons Global, told CNBC on Monday: "We have to be realistic here. Greek debt is now 175 percent of gross domestic product (GDP); it's higher than it was when this whole business first started."



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