Milburn: If I were the leader of Europe

Kames Capital's Phil Milburn said Greece should be forced to leave the euro and Portuguese and Irish defaults pushed through as he outlines his solutions for the eurozone debt crisis.

The manager of the £434m Kames UK High Yield Bond fund said he "genuinely" did not understand the deal that came out last week which he thinks only solved the symptoms of the crisis, not the cause. Milburn said the main element of a solution would involve some transfer of wealth from the core (Germany) to the periphery and in order to do that Europe would need to endure some uncomfortable actions. "Europe is solvable but there is no perfect way and some of the solutions are unpalatable," he said. As a full fiscal union is unlikely, Milburn said, he is in favour of a temporary fisca...