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Economy

Demeter

(85,373 posts)

19. Einhorn Says Europe Letting Greece Collapse to Stop Populism

Reply to Tansy_Gold (Original post)

Tue Jul 14, 2015, 07:06 AM

Jul 2015

http://www.bloomberg.com/news/articles/2015-07-13/einhorn-says-europe-allowing-greece-collapse-to-fight-populists

David Einhorn, founder of Greenlight Capital, said Europe’s leaders are prepared to let Greece fail to discourage other countries from electing populists.

“Europe is unwilling to allow Syriza a face-saving compromise, even if that means Greece collapses and the rest of Europe suffers,” Einhorn wrote in a letter to investors on Monday obtained by Bloomberg....

“Syriza has capitulated by proposing a deal which leaves Greece with even more austerity than when negotiations began and no actual debt forgiveness,” Einhorn wrote. “This might not be enough, as the grand goal of the European negotiators appears to be to discourage other countries from electing populists.”

HEDGE FUNDS REVOLTING...

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