Goldman's O'Neill says Greek default closer
ST PETERSBURG, Russia
ST PETERSBURG, Russia (Reuters) - Greece will keep moving closer to default unless European Union policymakers stop sparring in public about its debt crisis, Jim O'Neill, chairman of Goldman Sachs Asset Management, said on Friday.
"It is like open theatre," O'Neill told Reuters Insider television in an interview at the St Petersburg International Economic Forum in Russia.
Asked if he thought Greece would default, he said: "I think the risk of it is getting closer unless European policymakers are a bit more sensible."
He urged European policymakers no to "keep on publicly sparring with each other, like some game theory between the ECB, the French and the Germans."
He said the risk of Greece leaving the euro was probably some way off and that Greece did "not matter economically".
But he warned that contagion did matter and that if Italy and Spain were badly affected it would be a "big problem".
He said the euro was unlikely to remain above $1.40.
"I cannot really see how it can stay above 1.40," he said.
(Reporting by Guy Faulconbridge, editing by Timothy Heritage)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- UPDATE 8-Dallas Ebola patient vomited outside apartment on way to hospital
- Appointment of Arvind Subramanian as chief economic adviser hits Modi hurdle
- Boxer Sarita Devi showed lack of sportsmanship, say organisers
- China tells foreign countries not to meddle in Hong Kong
BACK IN JAIL
Subrata Roy, the jailed chief of India's Sahara conglomerate, is back in a cell after living in a makeshift prison office for two months as he tried to negotiate the sale of his luxury hotels, a jail official said. Full Article
Appointment of Arvind Subramanian as chief economic adviser hits Modi hurdle. Full Article
Diageo bars United Breweries from appointing independent director at United Spirits. Full Article