Faber Says Greece Needs Debt Writedown of as Much as 50%

April 30 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks with Bloomberg's Maryam Nemazee about Greece's debt crisis.

The best solution would be if you had a significant write-off for Greece. in other words, say they owe 100, then they should pay maybe 30 to 50 on the dollar. And the rest would have to be written off by the banks and other governments that have lent Greece money.

When you look at Greece like a corporation, they are basically bust. And if it is bust then it does not help to expand and actually increase loans.