"Greece is going to default despite all the talk, despite the liquidity package," and Portugal...

|By:, SA News Editor

"Greece is going to default despite all the talk, despite the liquidity package," and Portugal may be next, Martin Feldstein says. The problem is that Greece needs to cut its budget deficit from 13.6% of GDP, forcing its economy deeper into recession and sapping tax revenues. “Those are enormous cuts, impossible to live with.”