Greece defaulting on its debt is certain said Bill Gross, manager of Pimco, the world΄s largest bond fund, according to Reuters.
The question was when, not if, Greece would default on its debt said Gross, adding that it was a 50-50 call as to whether or not Greece would end up dropping the euro.
“Actually, I think they would do better, in my opinion, to drop out and then to come back,” he said.
“They basically told the banks to stuff it, to basically take their money and go home. Perhaps Greece should do that, or otherwise they΄re in for a five-, 10-, 15-year period of time of very difficult circumstances.”
(source: Reuters, capital)
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