Professor Paul Krugman, Princeton University: Greece default – not if but when!

Professor Paul Krugman, Professor of Economics & International Affairs at Princeton University is convinced that Greece will default on its massive debts and will probably abandon the euro. He warns it would be a messy affair which could eventually lead to a recovery for the Greek economy but he forecasts there will be ‘contagion effects’ across the Eurozone. He thinks that former UK Prime Minister and Chancellor Gordon Brown should have a statue created as a reward for keeping Britain out of the euro.