January 12, 2012

Hugh Hendry Just Took Part In The Critical Debate About The EZ Crisis

The problem is greater than the ability of the politicians to respond.

There is no policy prescription that they can offer that will redeem the situation. The redemption will come through the citizens of Greece and elsewhere throwing the politicians out and rejecting the European ideal. Greece should default and leave the Euro. "Greece needs a real exchange rate"

Hendry says the UK is in depression - not recession - and it will take years to get back to where we were in 2006 and 2007.

Hendry is no longer the CEO of Eclectica. He's the CIO, and his CEO has banned him from media.