Jim Rogers: Ireland Should Go Bankrupt

Jim Rogers :"I think they should go bankrupt , I think they will be better off , I think Europe will be better off , I think the world will be better off if they go bankrupt , in America we have cities counties and states go bankrupt thought our history America did not come to an end , US dollar did not come to an end , look Greece is a very small part of the EU , Ireland is a tiny part of the EU , it is not going to end the EU , it will be good though , because it will show people that they want a strong Euro , a strong currency It would be good that people can not just go and spend money they don’t have. It would teach everybody a very good lesson, and in the end Europe would be stronger for it and the Euro would be stronger ” “You can not spend staggering amounts of money that you don’t have of other people’s money that you don’t have because somebody has to pay the piper. I mean this is ludicrous. Are you aware of how much money they borrowed , just their banks alone they borrowed eighty per cent of their Gross National Product there is no way they will pay it back and it is going to cripple the Irish economy for years to come. In the future Ireland will be crippled because they will have to try nearly everything they earn to pay off old debt. There is no reason why taxpayers around Europe or in Ireland should pay for other people’s mistakes. The banks that the lent the money and made the mistakes should lose the money. The bondholders and the stockholders of banks should lose money. It’s that simple.”