|
|
Dennis van den Bosch From Kirsten Bischoff, Opalesque New York:
Greece and Ireland will likely leave the Euro or become a second, “shadow” currency to the Euro, predicts Dennis van den Bosch is senior portfolio manager (trading and risk control) - global currency, at Henderson Global Investors during a recent interview with Sona Blessing on Opaelsque Radio.
Van den Bosch, who looks to history when analyzing current economic events, explains that although from a social point of view the Greece bail out seemed to have been the right thing to do, the innovation and creativity that needs to occur for a country to get out of such a downward spiral is never inspired by simply giving out money. Looking forward, he expects the rising interest rates, as well as the rate they are paying on the stability fund is going to require further refinancing in the future, and other, stronger Euro nations will refuse to back another bailout of Greece on the backs of their taxpayers.
Currency manipulation around the globe will be a contributing factor to this, as “printing money will always – always – that is historic fact – result in the end, in inflation. This time is not different,” says van den Bosch. “In the end this is a long-term view, not something that will happen this year or next, but it will cause inflation.”
When currency was in the form of gold coins it was manipulated when people would scrape off gold from...................... To view our full article Click here
|
|
RSS
