Mohamed El-Erian Quotes

Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.

One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear.

I hope Greece is going to remain in the Euro zone.

The Greeks do not have the option of borrowing because nobody will lend to them.

I think the facts reveal that the European partners have taken extraordinary measures to help Greece address its problems.

I think there will be no government bankruptcy in Greece.

There is a difference between strategic or technical default and default where you really don't have the economy to support the spending. We are not at that point yet. We could be. We could be, like some European nations.

If Spain goes under, Italy will come under even more scrutiny.

Financial crises require governments.

Europe is on an economic collision course with reality.

The interest on our debt is going to collapse this country.

Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.

We saw in Greece how dangerous it is if a country has a bigger and bigger debt, and I hope that we will not have a second Greece in our neighbouring country, Italy.

Greece is at a dangerous crossroads. Other countries-Portugal, Ireland, maybe Spain-are coming behind it.

I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.

The vast majority of Greeks accept the need for reform and want to keep our country inside the euro zone.

A very difficult year is ahead of us. We must continue our efforts with decisiveness, to stay in the euro, to make sure we do not waste the sacrifices and do not turn the crisis into an uncontrolled and disastrous bankruptcy.

It is simply science fiction fantasy to say that, if you do not raise the debt ceiling, that everything is going to collapse.

From my point of view it's impossible to cut debt in a country with new debt from another country.

It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.

We will do whatever we could do to keep Greece inside the euro and inside Europe.

Italy even in the future will not need aid from the European Financial Stability Fund.

If we were the problem, it would be very convenient - kick Greece out, everything's fine. What would happen to Spain, what about Portugal, what about Italy, what about the whole of the euro zone? We need more cooperation and less simplification and prejudice.

If we bankrupt America, we will all pay the price.

The financial crisis in our country is not a passing storm. Given the size of the problems, our national effort will not be completed in 2012. It will take many years and will require the efforts and insistence of several governments.