Marc Faber : the Euro is Doomed , only Germany will stay in Eurozone

This is an interview of Marc Faber in french with the Swiss radio RTS
Marc Faber explains that the Euro is doomed that we should fire all the Eurocrats in Brussels and that only Germany will be able to stay in the Eurozone Marc Faber : il faut licencier les technocrates , l'euro nous a ruiné

below is an improvised translation for those who cannot understand french :
host:You predicted a war 2 yrs ago, are you still thinking of it now?
Marc Faber : I think that the economy will not improve in the world, and usually people cure a bad economic situation by waging wars. It is obvious that the geopolitical tensions today are growing.
host: under which shape this war will occur?
Marc Faber : It's hard to tell, but it is obvious that China is Middle East oil dependent and that concerning the West, it seems that they intend to control the Middle East oil sells. I think this will increase the tensions between China and the USA. It might not be a conventional war, but it can be a guerrilla style war in countries such as Pakistan or Afghanistan.

host: therefore, there will be some military involvements in it? Is this what you meant?
Marc Faber : yes, for sure. By the way , Middle East is already explosing. That is totally obvious.
host: Today, Europe is catching more attention than the USA, Let's go straight:is the Euro condemned?
Marc Faber : Yes, some countries will leave the Euro zone: Greece, Spain, Portugal ..and maybe all countries except Germany.

host: it is almost a joke, isn't it? Europe cannot go along this way.
Marc Faber : indeed,but IMO the european economic situation would be better without the Euro.

host: So, what u are saying is that all countries except Germany should exit the eurozone.Why Germany could be able to stay in?
Marc Faber:Germany doesn't have an excellent economic situation but surely much better than in other countries.The issue in Europe, The USA and many others western countries and Japan is too much debt. In other words, the debt increased more than the PIB during the last 20-30 yrs. It is simple, we have too much debt and too many future obligations concerning social welfare.

host: How long before the eurozone to explode?
Marc Faber : It depends on politicians/policy and on the way they want to manage the Euro. But IMO, there are bankrupt countries such as Greece, one should realize that.You can keep bailing them out which is IMO not particularly fair 'cos if they are bankrupt, there are some reasons for that, one should first deal with those problems.
host: what is "magic" recipe about it, people are talking a lot about austerity, we did some and we get now people like Francois Hollande the new French President talking about growth. What should be done?
Marc Faber : Listen, it makes me laugh when people are talking about austerity in Europe. In 2000, governments took 44% of the economy, since then it increased by 76% and now governments are providing 49% of the European economy. It is that the main problem, we have never seen austerity. We always tried to solve the problems with more interventions from the governments.Economy is dynamic if provided by the private sector and not by governments.
host: The government pro-growth measures as suggest Francois Hollande is something totally wrong and not credible?
Marc Faber : It is a catastrophe, IMO in order to restart the European economy, you have to cut the government spending by 50% and fire most of politicians in Brussels
END