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Tags: Rogers | Greece | Default | Euros

Jim Rogers: If Greece Defaults, Buy as Many Euros as You Can

Tuesday, 13 September 2011 08:38 AM EDT

If Greece defaults on its debts, the wise investor would buy as many euros as possible, says international investor Jim Rogers.

First, a Greek default would eventually put the country on the path to proper reorganization and secondly, those left in the euro zone would consist of healthy economies unlike that of Greece, where debt burdens are sparking fears the country will default and spark a run on the financial system across the continent.

"If you're bankrupt, go bankrupt, reorganize," Rogers tells CNBC.
"Countries have been going bankrupt for centuries, there's nothing new about it."

jimrogers200.jpg
Jim Rogers
(Getty Images photo)
Should Greece default, others could follow suit like Spain, Italy or Ireland, markets fear.

All the better, Rogers says.

If a string of defaults occurs "the euro will go down a far amount. But I would buy all the euro I could at that point because then that would mean that Europe is going to have a very strong, sound currency," Rogers says.

Stock markets, however, should continue to roil with volatility thanks to concerns that stronger European economies won't be able to help Greece out forever.

"We're dealing with a confidence crisis," Matt McCormick, a money manager at Cincinnati-based Bahl & Gaynor, which oversees $4 billion, tells Bloomberg.

"A lot of people think that Germany will pull out a rabbit from the hat and fix Greece. Germany is fighting its own issues. It cannot be the sugar daddy for all of Europe."

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StreetTalk
If Greece defaults on its debts, the wise investor would buy as many euros as possible, says international investor Jim Rogers. First, a Greek default would eventually put the country on the path to proper reorganization and secondly, those left in the euro zone would...
Rogers,Greece,Default,Euros
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2011-38-13
Tuesday, 13 September 2011 08:38 AM
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