Jim Rogers: Ireland Should Default


Via ZeroHedgeJim Rogers, American investor and financial commentator:

“It would teach everybody a good lesson, and in the end Europe would be stronger for it, and the EUR would be stronger… You can not spend staggering amounts of money that you don’t have of other people’s money that you don’t have because somebody has to pay the piper. This is ludicrous. This will cripple the Irish economy for years to come. In the future Ireland will be crippled because everything they earn will go to pay off old debt. There is no reason why taxpayers around Europe or in Ireland should pay for other people’s mistakes. The bondholders and the stockholders of banks should lose money

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