Jim Rogers: Euro will probably break up in the next 15, 20 years

New York - Legendary investor Jim Rogers sat down with CNBC this week to discuss the current sovereign debt crisis in Greece, a possible collapse of the Euro and two of the world's biggest bubbles.

On Wednesday, Chairman of Rogers Holdings and co-founder of the Quantum Fund, Jim Rogers, sat down with CNBC’s “Worldwide Exchange” to discuss his views on the current state of the global economy, which seems to quite bleak for some countries. The author of “Hot Commodities” believes the Euro will not exist in the longer term as he feels “the Euro will probably break up in the next 15 to 20 years” because currency unions do not survive and they haven’t in the past. One of the reasons he suspects the Euro will end within the next two decades is because if the European Union finance ministers do decide to bailout Greece due to its ever-growing public debt problem then, says Rogers, it will undermine the Euro and weaken the fundamentals of the currency, “I would let Greece go bankrupt because then everybody will say the euro is a serious currency.” For several years, founder of the Rogers Commodities Index has warned that the British Pound is a weak currency and that Britain faces a tremendous problem of debt and a trade deficit. Rogers further added that their North Sea oil and London’s financial hub are dwindling and that there is nothing else in the financial long-term for them. Nevertheless, Rogers does view most Western currencies with caution as they are “very suspect.” At the present time, the two biggest bubbles in the world right now, according to Rogers, are United States Treasurys and urban and coastal real estate in China. The outspoken investor concluded that there is going to be another recession in probably 2012 because we need one, “Yes we're going to have another recession, I guarantee you. Certainly by 2012 say, it's time for another recession. Next time it's going to be worse because we've shot all our bullets.”