Greece is Shaking Confidence in the Euro

In a spirited three-way discussion Professor Joseph Stiglitz, Spanish Ambassador to the UK Carles Casajuana, and Hugh Hendry of Eclectia Asset Management argue about how the debt crisis in Greece is hammering away at confidence in the euro.

Here’s a choice line from Stiglitz:

“The CDS spread, that bet on a default of the US government is going up. Does anyone believe that the US government is going to default? The fact is the US government can print money… you can bet on whether or not there’s inflation, but to bet on a default is literally absurd.”

Don’t know… considering the new budget, default doesn’t sound that absurd. Can we bet on both?

This video came to our attention via The Business Insider. You can view the clip from BBC’s Newsnight below.