Renowned investor Jim Rogers was not the calm, says CNBC. He thinks the rescue operation is incorrect, even if it had been a worst that can happen.
“Let them fail. Let them all go bankrupt, “he exclaims in an emotional interview with the media.
According to Rogers interventions do not help one bit to solve Europe’s financial problems.
“The way the system should work is this: when you’re insolvent – collapsed and competent people take control of assets. What they do: take assets from the competent and give them incompetent. This is an economic and a moral absurdity. ”
Jim Rogers is almost convinced that the European Union the situation worse by its actions.
“The outcome of a situation with large debt is more debt. This is the most ridiculous thing I ever heard. When the situation gets worse it will cause a crash, so be careful! No, really need to worry! “Says billionaire investor.