Fusion: Will PIIGS nations have to leave the Euro in order to devalue their currencies and improve their competitiveness ?
Jim Rogers: The Euro will look very different in a number of years. Devaluing is a temporary solution. Europe has been doing that for decades with no success. They can continue to do what they’ve been doing, but they’ll get poorer and poorer. Only real structural change to improve their economies will work. I do not blame the hard working Germans for not wanting to keep bailing out the wine sipping, beach loving Spaniards, Italians and Greeks.
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.