Greyerz - Governments Stand Ready With Massive Package

"With more bailouts needed in Europe and around the world, today Egon von Greyerz told King World News, “Governments are standing ready with a massive package.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said that because of the money printing, “Gold is on the verge of a major breakout here.” Here is what Greyerz had to say about the unfolding crisis: “In Spain, the interest rate is now 7%, which is totally unsustainable for them. They can’t afford to pay 7% or even 5%. Sales and other economic figures in Spain are collapsing. Retail sales are down 10%. Slovenia is the next country that some are predicting will collapse.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/15_Greyerz_-_Governments_Stand_Ready_With_Massive_Package.html