Harvard economist Martin Feldstein — who 20 years ago warned that the euro would prove an “economic liability” — says Greece will default on its bonds and other euro zone nations may follow.
“Greece is going to default despite all the talk, despite the liquidity package,” Feldstein says, adding that Feldstein said other members of the 16-nation euro area may also default, with Portugal the main candidate.
Standard & Poor’s this week downgraded Portugal and Spain as well as Greece. (more)
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