Saturday, 17 September 2011

Michael Pento: 'Greece will Default'

Two French banks had their credit ratings downgraded today by Moody's. The reason Société Générale and Crédit Agricolecut were downgraded was due to their association with Greek debt. Greece is close to default once again and in an effort to keep Europe afloat, BRICS has said they will purchase bonds from nations in a debt crisis. Michael Pento, president at Pento Portfolio Strategies, tells us more.

[Posted at the SpookyWeather blog, September 17th, 2011.]

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