Bloomberg News

Krugman Says Greece Will Default on Its Debt, May Leave Euro

February 02, 2012

(Updates with Krugman’s comment in second paragraph.)

Feb. 2 (Bloomberg) -- Greece will default on its debt and will probably quit the European monetary union, Nobel economics laureate Paul Krugman said.

“The Greek situation is essentially impossible,” Krugman said at a conference in Moscow today. “They will default on their debt. In fact they already have. The question is whether they will also leave the euro, which I think at this point is more likely than not.”

--Editor: Paul Abelsky

To contact the reporters on this story: Scott Rose in Moscow at rrose10@bloomberg.net; Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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