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Greece to Leave Euro Zone on June 18: Wealth Manager

Posted By admin On May 28, 2012 @ 2:32 pm In Featured Stories,Money Watch | Comments Disabled

Shai Ahmed
CNBC [1]
May 28, 2012

Greece will leave the euro zone on June 18 if the populist government wins the country’s elections on the 17 as the rest of the euro zone rounds on “cheaters,” Nick Dewhirst, director at wealth management firm Integral Asset Management, told CNBC.com Monday.

“The euro zone is a club but you get cheaters who get away with it until everyone finds out and at that point you need to remove them otherwise everyone will cheat. It’s better for Greece to leave,” Dewhirst said.

He added that Greek society was built on cheating and scheming, saying “everyone does it” but that voters elsewhere in the euro zone were now calling Greece to account.

“The basic question is that a German has to increase working from 65 to 67 and that is to pay for Greeks retiring at 50. The 17th of June is the perfect opportunity to say either ‘we’ll behave’ or ‘we’ll carry on cheating,’” he said.

Full story here. [1]

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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/47587509

[2] Euro zone agrees bailout for Greece: http://www.prisonplanet.com/euro-zone-agrees-bailout-for-greece.html

[3] Roubini: Greece Should Default, Leave The Euro: http://www.prisonplanet.com/roubini-greece-should-default-leave-the-euro.html

[4] Euro zone discussed capital controls if Greek exits euro: sources: http://www.prisonplanet.com/euro-zone-discussed-capital-controls-if-greek-exits-euro-sources.html

[5] The Greek Debt Crisis Escalates: Is Greece Threatening To Leave The Euro?: http://www.prisonplanet.com/the-greek-debt-crisis-escalates-is-greece-threatening-to-leave-the-euro.html

[6] Fed – Not Greece – Could Provide Boost to Euro This Week: http://www.prisonplanet.com/fed-%e2%80%93-not-greece-%e2%80%93-could-provide-boost-to-euro-this-week.html

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