In the News: Bloomberg Radio

Instead of bailing out Greece, the money should be used to shore up banks to stomach sovereign failures, portfolio manager Axel Merk tells Bloomberg's Tom Keene

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Europe should use the funding promised to bail out Greece to recapitalize banks instead, according to Axel Merk of Merk Investments LLC[...]'What Merkel and the other ones should do is realize instead of pumping 100 billion euros into Greece, let's pump that into the banking system since Greece is hopeless,' Merk, president and chief investment officer of Merk Investments in Palo Alto, California, said in a radio interview on 'Bloomberg Surveillance' with Tom Keene and Ken Prewitt…"