Greenspan: A Grexit is a matter of time – Buffett: That is how the euro could be strengthened

Greenspan: A Grexit is a matter of time – Buffett: That is how the euro could be strengthened

Athens, May 25, 2015/ Independent Balkan News Agency

By Spiros Sideris

The exit of Greece from the Eurozone is simply a matter of time and will not lead to the dissolution of the monetary union, believes the former Fed Chairman Alan Greenspan, while the major investor Warren Buffett says that Greece’s exit will strengthened the euro.

In an interview in Het Financieele Dagblad, the former Fed chief says that “the sooner Greece exit from the eurozone, the better for everyone”, and adds that in contrast to what he believed two years ago, the exit of Greece would not cause the breakdown of the Eurozone.

“This does not mean that the losses would not be great for the countries holding the bulk of Greek debt. I do not see how could Germany be “compensated”. The same applies to countries such as the Netherlands and Luxembourg”, he says.

On his part, the billionaire investor Warren Buffett, speaking to the newspaper Euro-am-Sonntag, argues that a potential Grexit could strengthen the euro.

Nevertheless, the American tycoon – his value is estimated at USD 71.3 billion according to Forbes – admitted that it is difficult “to accurately predict the impact of a potential Grexit”.