Greece Should Just Go Bankrupt

Greece will default to the International Monetary Fund and will be on its own financially beginning Tuesday (SEE: Breaking: Greece will default to IMF on Tuesday). One financial guru believes the European country should just face the inevitable and declare bankruptcy. It would end this entire financial escapade.

Jim Rogers, international investor and author of “Hot Commodities,”told RT.com that Greece should simply “go bankrupt, get it over and start it over.”

Although governments have been staving off the inevitable over fears of what it would do to the global economy, Rogers takes another stance: we won’t remember it by the end of summer.

“Greece is a tiny part of the European economy and it’s nothing, it’s insignificant for the world economy. It’s a lot of headlines and a lot of noise; it will cause the markets to be disrupted for a while,” he told the news outlet. “But three months from now, none of us will remember if Greece goes bankrupt.”

He added that the Greek economy has been in a deplorable state for years, particularly since the country joined the European Union and eurozone.

“If you ask me what they should do – is just go ahead and go bankrupt, get it over with and start it over,” Rogers added. “But all this calling names and blaming other people is not going to do any good.”

Reprinted with permission from Economic Collapse News.