November 11th, 2011
04:46 PM GMT
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(CNN) – Investor Jim Rogers says Europe needs to "start over" to wipe out decades of mistakes and reboot its economy.

Rogers, speaking to CNN's John Defterios, said Europe needed to allow some institutions to fail in order to ensure the system survived.

The process would be "painful, it's going to hurt a lot but after two or three years we will start over from a very strong and renewed base," he said.

He said the euro is a "good thing" and troubled economies such as Greece should remain under its umbrella. "I would stay in, I would take the lumps, I would take pain, I would have huge write offs but I would stay in if I were those countries."

However, he said Europe could be facing a lost decade.

Filed under: BusinessGlobal Exchange


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soundoff (4 Responses)
  1. CraigNL

    It is typical that people with a lot of money talk so easily about reforms etc. Sure, they are never going to notice anything. I mean it is easy to save a 1000 euro per month if you earn 7000 a month.

    November 14, 2011 at 9:02 am |
  2. Snarf

    Well the USA too need a reboot... and they can´t do it with the process of printing some more billions every month.
    When you get a 25% on the raise of Orange Juice... you know that America is in deep trouble... but the big finance companies only talk about Europe.
    USA just had a city of nearly 1 million habitants going bankrupt.. even with the massive printing of money, they couldn´t be saved.
    All the western world needs a reboot. Finance needs to be shut down and reformulated... or we will end in a dangerous war with the poor taking on the richs... and the are the 99%.

    November 14, 2011 at 3:35 pm |
  3. Erina

    Went a little nuts and thhguot up some more while doing the washing up!52 Tweets in a deck 1001 Arabian Tweets 18 Tweets on a golf course 57 Varieties of Twitter 206 Bones in a twitter user's body 108 in the periodic table 3 Blind mice (see how they tweet) 90 Tweets in a right angle

    July 27, 2012 at 7:57 pm |
  4. icons design

    I apologise, but it not absolutely approaches me.

    October 10, 2012 at 12:07 pm |

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About Global Exchange

Global Exchange explores how emerging markets are impacting and influencing the global financial community, at a time when business is a vital driver of the international news agenda.

Global Exchange is presented live from Abu Dhabi by emerging markets editor, John Defterios, who will be joined by CNN correspondents from around the world.

Global Exchange also includes the “GX20,” a global hotlist of some of the world’s biggest economic thinkers. The GX20 will be drawn from the key emerging markets, from across China, Russia, India and South Africa, contributing to the show and this blog.

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