Get Out: Ireland, Portugal and Greece need to leave the Eurozone or they will not be able to land on their feet

Via AFP
"Without their own currency or large fund transfers, Greece, Ireland and Portugal will not be able to land on their feet," Andrew Bosomworth, head of Pimco Europe's portfolio, told the German daily Die Welt.


Having their own currencies would allow a competitive exchange rate to boost exports and achieve the economic growth needed to be able to repay their heavy debt loads, he added.

Once growth returned and the countries regained the confidence of sovereign debt markets, they could reintegrate the single currency area, Bosomworth said.

Belgium, Italy and Spain should be able to overcome their own debt problems while remaining inside the eurozone meanwhile, with substantial help from partners, the bond investor added.

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