‘Buying Opportunity’ All Over Europe, Even Greece: Trump
Despite all its troubles and turmoil, Europe is setting up as a great chance for investors looking for some cheap land and unique deals, developer Donald Trump told CNBC.
While he thinks the euro zoneeventually will break up and the individual nations will return to their original currencies, the unrest represents a chance for investors to swoop in for bargains, Trump said on “Squawk Box.”
"You're getting it for nothing, you're getting the land for nothing, you're getting everything for nothing," he said. "You have to sit with it for a while, but there are a lot of great opportunities in Europe. There's no question about it."
Good enough for Trump himself to take a shot?
"I'm actually looking at something — it's so ridiculous, it's laughable — and yet I'm thinking about doing something over there with a group that is very smart, and frankly there is an opportunity," he said.
His comments came as investors offered tepid approval of the Greece electionsSunday, in which New Democracy candidates in favor of abiding by austerity measures necessary to keep the nation in the euro zone won and likely will form a coalition with others in favor of staying in the European Union.
At the same time, focus turned to Spain, where bond yields continue to rise amid concerns that Spanish banks are undercapitalized and will need a bailout possibly in excess of the 100 billion euros ($126 billion) recently approved.
"Spain is an amazing place," Trump said. "It's a great country and it's got a fever, and this is the time to take advantage of it."
Yet his opinion of southern Europe's finances remains gloomy, though perhaps not at the level of those who think the debt issues in Greece, Spain, and elsewhere will cause a global recession .
"I see ultimately a lot of the countries going back to their own currencies," Trump said. "The world will continue. Will it affect us? Probably, but I don't think it will be nearly as bad as people are saying."