Eurozone Leaders Hold Emergency Meeting in 'Make-or-Break' Moment for Greece

Thursday, July 21, 2011

Eurozone leaders are meeting in Brussels today, for an emergency summit on the looming debt crisis in Greece. Greek Prime Minister George Papandreou called this summit a "make-or-break" moment. Meanwhile, the International Monetary Fund warned that this crisis could spread to the rest of Europe, even if Eurozone leaders prevent a default in Greece.

Pippa Malmgren, president and founder of Principalis Asset Management, and former special assistant to President George W. Bush for economic policy on the National Economic Council, thinks Greece might temporarily have to exit the Eurozone.


Pippa Malmgren

Produced by:

Arwa Gunja

Comments [3]

Only someone with a fat 401k or IRA or millions in the bank can casually, yet apparently sincerely suggest that we all work an extra ten years. Given the almost snarky tone, one can only assume that Malmgren and Hockenberry fit the above description. Hey. Why not delay Medicare another ten years too? That would take care of a few million more seniors who would be uninsured and likely to drop dead for a lack of medical attention. Think of the savings. Malmgren and Hockenberry must have adopted the Republican plan to reduce Social Security and Medicare costs. Get people to die and costs inevitably go down. Congratulations Mr. Hockenberry. You've clarified where you stand. In fact, why not start enjoying your retirement now?

Jul. 21 2011 12:49 PM
John from Brooklyn

"Raise your hand if you want to work ten more years to pay down the debt". John, "I raise my hand". What?!!!!? Why should I work ten more years to pay down debt that the banks created through the irresponsible securitizing of debt after
Glass-Steagall was eliminated. You and I don't own this debt nor are we responsible for it. Let the banks and hedge fund owners who own the debt take a haircut. The Take Away reached new lows
with this report.......

Jul. 21 2011 09:39 AM
Rebecca Ramsay from Cambridge, MA

RE: balancing the budget here in the US

Instead of raising the retirement age to Increase GDP so we can pay for social progams in the US, could those additional hours of work come from more jobs for the unemployed?

Jul. 21 2011 07:11 AM

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