Marc Faber is interviewed on Bloomberg on the 10th of May 2012.
When asked if Greece will leave the Eurozone, he answered that it would be much better for Greece and the entire Europe, going even further Spain, Italy or even France should leave the Euro. European countries should all go back to their local currencies and trade internationally with the Euro. If you keeping bailout them out, it just compounds the problem. The public has just been brainwashed into thinking that there would be an economic catastrophe would the Eurozone break up, although it could just be th solution to the European crisis. He then comes hard on European bureaucrat saying they make the government in the U.S. look like an organization consisting of geniuses. The problem in European is too much debt and lack of fiscal discipline.
He has a bearish view on the economy, but investments in Europe might still go up if this print enough money. Speculators should look at high quality stock in Spain, Portugal and Italy, as the market is oversold.
There has been a minor correction in the US, but it could become more serious. A new high has been made in April (S&P at 1422), but technicals look bad and he does not see the S&P 500 making new high unless there is a HUGE QE 3. But if QE 3 occurs, and the markets make new highs, you can expect a massive crash like in 1987.