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Interesting: A default doesn’t mean Greece being kicked out of the eurozone

Old_JoeOld_Joe
edited June 2015 in The OT Bullpen
A very interesting analysis from The Guardian explores many alternatives open to Greece.

A default doesn’t mean Greece being kicked out of the eurozone. Here’s why:

Months of arguments about the Greek financial crisis have this week cumulated in a highly emotional debate about a possible Grexit. After a default, many hardliners expect Greece to leave the eurozone. What many commentators appear to be missing, however, is that Greece may not have to leave the eurozone after a default.

Regarding bankruptcy, there are several hints that a default might not be quite as catastrophic for Greece’s economy as many assume.

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Credits: Visual and text excerpts from "The Guardian", Wednesday 17 June 2015
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