Saturday, May 26, 2012

What A Greek Euro Exit May Cost



A Greece Euro Exit Could Make Lehman's Collapse 'Look Like A Tea Party' -- CNN

London (CNN) -- The wheels are coming off the wagon. The fat lady is about to sing. The proverbial is about to hit the fan. It doesn't matter which saying you use, the facts are inescapable. Greece's membership of the eurozone is untenable under the current conditions and everyone knows it. Some like Hungary's finance minister say openly Greece will leave the euro. The only question is what catalyst will force it out and when. The nearest deadline to hand is the country's June 17th elections, when the Greek voters will decide whether to support parties who will adhere to the bailout agreements or those who want to tear them up.

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My Comment: In sheer dollar value .... a Greek collapse would dwarf what Lehman cost when it collapsed in 2008.

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