Greece should default and withdraw from the euro, says Hugh Hendry

The only solution to Greece's debt problem is bankruptcy and a withdrawal from the euro, says fund manager Hugh Hendry.

It's time for the people of Europe to throw out the politicians and reject the Euro ideal, says fund manager Hugh Hendry. The co-founder of Eclectica Asset Management told the BBC that "we have reached a very rare moment in economic history where the problem is greater than the ability of politicians to respond". As a result, he says, the only solution to Greece's debt problem is bankruptcy and a withdrawal from the euro.

Hendry doesn't understand why Greece's creditors are being protected. Lending to Greece was "a folly, a misjudgement. And all this fire fighting is trying to protect the creditors who made those loans as opposed to the oppressed person who is being fired and who is seeing their education and health systems being closed down".

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James McKeigue

James graduated from Keele University with a BA (Hons) in English literature and history, and has a certificate in journalism from the NCTJ. James has worked as a freelance journalist in various Latin American countries.He also had a spell at ITV, as welll as wring for Television Business International and covering the European equity markets for the Forbes.com London bureau. James has travelled extensively in emerging markets, reporting for international energy magazines such as Oil and Gas Investor, and institutional publications such as the Commonwealth Business Environment Report. He is currently the managing editor of LatAm INVESTOR, the UK's only Latin American finance magazine.