Marc Faber : We have here a political issue. The bureaucrats in Brussels want to stay in power. They are going to do whatever they can to preserve the Euro. I don't think the man on the street in Europe is interested in the Euro.
If you ask them the question, do you really want to pay for the Spaniards, the Italians, the Greeks and it will cost you this much money out of your pocket, directly or indirectly through taxation or inflation or what not. They would say no. But the weak countries, they all want to stay in because they get the pensions in Euros. And if they exit, their currency say the Spanish peseta will be pegged at 50% lower rate than at the present base rate. -
in CNBC TV 18
