Roubini interviews Marc Faber

Marc Faber and Nouriel Roubini on CNBC 07 May 2010

Roubini and Faber on the Greece Sovereign Debt Crisis

Marc Faber Greece is basically bankrupt , the EU has to bail it out

Marc Faber : well basically we have a financial crisis in Greece no doubt , the country is basically bankrupt and the EU will most likely have to bail it out and obviously that's favorable for Greece if they get bailed out temporarily but negative for the EU and so the Euro Dollar , The Euro was weak over the last couple of weeks , so that is basically what has happened , it is not that Greece produce the market sell-offs it was a trigger , a catalyst for the sell-off they were a lot of factors training to a correction to start with the market was over bought we were ahead over essentially economic fundamentals in emerging economies and around the world we're up more than a hundred percent from the March 2009 lows and in the US 80% , and very clearly the economic expansion particularly in the western world western Europe and the US , considering the huge fiscal stimulus and zero interest rate ......"
"I think most western European governments with few exceptions and the US in the long run cannot pay their unfunded liabilities and therefore we will have more and more sovereign defaults in future but of course we live in the twenty first century and when we live in this century the governments they print money before they default and that will be the case in the EU and it will be the case in the US , so temporarily you can postpone the hour of truth" later on the other Dr Doom Nouriel Roubini asks Marc Faber some interesting questions aboutGreece and China bubble amongst other things
Yesterday's historic sell-off sending shivers through an already fearful market, with Laurence Meyer, Macroeconomic Advisers and Marc Faber, The Gloom, Boom & Doom Report.