Dr. Peter Morici: Greece should quit the euro and remark its debt
Jun 21st, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dr. Peter Morici: Greece does not have a liquidity problem - - it is insolvent. Without transfers of wealth from richer states like Germany and France to retire significant amounts of its sovereign debt, Athens must restructure its bonds—essentially default on significant portions of its obligations to bondholders.