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Urgent Stock Market Message

Marc Faber Says Worry about Portugal, Ireland, Italy, Greece, and Spain Soverign Debt Defaults

Economics / Global Debt Crisis Jan 19, 2010 - 01:23 PM GMT

By: Submissions

Economics

Best Financial Markets Analysis ArticleAfter every financial crisis there's a sovereign debt crisis, Marc Faber says. Countries that borrowed too much during the boom times start struggling to pay their competitors back, and eventually some of them default.


The countries most likely to blow up this time around are the "PIIGS": Portugal, Ireland, Italy, Greece, and Spain.  One ore more of them, Faber says, will likely default in the next couple of years. And, that could result in the death of the Euro currency.

Longer-term, Faber says, Japan and the US are in line for the same fate.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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