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Carlyle Group Chief David Rubenstein Thinks Greek Drama Will Continue for Years

Greece is a great place to visit, but not a god place to invest


“We will be having this discussion about Greece for many years, ” David Rubenstein of the Carlyle Group told Gurufocus.

He seemed to mean the discussion about Greece would continue in the sense that it will remain a part of the Eurozone, not specifically related to whether the topic will still be about its chronic debt problems, but that might have been implied as well. The EU recently extended Greece’s deadline to pay back its debt for another four months, and given how the economy is faring in the country, it will likely need another extension four months from now. Rubenstein says Greece is a great place to visit, but it is too risky an investment.

Rubenstein spoke positively about investing in the U.S., China, Japan, Europe (aside from Greece) and sub-Saharan Africa. The latter is risky, but there is little competition, African governments tend to have less debt than in Europe. He said Carlyle pulled out of Russian investments even before the sanctions and certainly would not buy Russian investments on weakness.

 

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