"You know something is wrong with Europe when you have a German Pope and an Italian Central Banker"
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'Only massive debt restructuring can save EU'
Kyle Bass is a hedge fund founder who saw the financial crisis coming and made a fortune from it - first from America's sub-prime mortgage crisis and then from betting that Greece would default.
Mr Bass told Sarah Montague that Germany cannot be expected to bail out the PIIGS countries - Portugal, Ireland, Italy, Greece and Spain, and that only a massive write-down in those countries' debts will solve the crisis.