The euro is unlikely to still exist as a currency over the longer term, the pound will fall substantially in the next few years and US Treasurys and some real estate in China are the world’s two current bubbles, legendary investor Jim Rogers told CNBC.com Wednesday.
“The euro will probably break up in the next 15 to 20 years,” Rogers said in an interview. “Don’t get me wrong, I own the euro.”
“We’ve had currency unions in history, they didn’t survive, this one won’t survive either,” he explained.
The euro has been under pressure because of Greece’s sovereign debt concerns. But European Union finance ministers agreed to bail out Greece if it will need aid because of its growing public debt, which is forecast to exceed 120 percent of gross domestic product this year.
This article was posted: Wednesday, March 17, 2010 at 5:22 am