EU central bankers ponder Greece euro exit

[Stoatwobbler]

http://www.bbc.co.uk/news/world-europe-18046280

 

Europe central bankers have been openly expressing views on the possibility of Greece leaving the eurozone as its leaders struggle to form a government.

 

Germany's top banker said it was up to the Greeks to decide, but if they did not keep to their bailout commitments, they would receive no new aid.

 

His counterpart in the Irish Republic said a Greek exit would be damaging but not necessarily fatal to the euro.

 

Greece is to make a final attempt at forming a government on Sunday.

[Rupert_Baehr]

"His counterpart in the Irish Republic said a Greek exit would be damaging but not necessarily fatal to the euro."

 

It might even do the Euro a bit of good! - A bit like Cod Liver Oil ... Tastes bad, but does you good.

 

The interesting question (Interesting to me, anyhow) is: "What are all the mega-rich [and there are more than one or two of those] going to do with their Euros before the Greeks are forced to leave?"

 

Are the other Eurozone countries going to allow the Greeks to buy assets with (potentially) worthless Greek Money?

 

When the music stops, who is going to be left without a chair?

 

The demand from Greeks for Real Estate in Germany is rather high. (and I know that because I was offered 5000 Euros morethan the asking price for a house I offered for sale... (It's not for sale any more. Real Estate in Bayern (along with gold) is a pretty good investment.

[andyofborg]

It might even do the Euro a bit of good! - A bit like Cod Liver Oil ... Tastes bad, but does you good.

 

possibly in the longer term it might, however in the shorter term there would be pressure on the other weaker countries in the Euro to leave as well which certainly wouldn't help them.

 

and for Greece, it would be a short to medium term disaster, since something like 20% of it's economy would vanish.