Economic

Greece Likely to Default By 2013 as Debts Remain

“Greece is likely to default over the next three years because budget-cutting won’t be enough to reduce the nation’s debt burden, Pacific Investment Management Co. Chief Executive Officer Mohamed A. El-Erian said.

It’s in Greece’s interest to default ‘as long as you can contain the contagion to other countries and it is done through orderly restructuring and repricing to retain competitiveness,’ El-Erian said at a conference sponsored by the Economist magazine in New York yesterday. Like Latin America’s ‘lost decade’ in the 1980s, ‘the alternative doesn’t promise growth and employment generation,’ he said. “

(Greece Likely to Default By 2013 as Debts Remain, El-Erian Says – Bloomberg)

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.