The best solution would be if you had a significant write-off for Greece. in other words, say they owe 100, then they should pay maybe 30 to 50 on the dollar. And the rest would have to be written off by the banks and other governments that have lent Greece money.
When you look at Greece like a corporation, they are basically bust. And if it is bust then it does not help to expand and actually increase loans.
Related stocks: National Bank of Greece (ADR) (Public, NYSE:NBG), Hellenic Telecom Organization S.A. (ADR) (Public, NYSE:OTE)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.
