I would walk away too if I was them. This crisis has taught Greece that a nation must have control over their currency in order to make the most effective policy.
+ 1 It depends though on the politicians. If they use the printer for own objectives and they print more than the GDP growth then it can be fatal.
YES!! Greece must secede from the EU to carry on with its traditional debt default that has historically taken place every couple of decades as it has done throughout its history.
When I read the article I was reminded of some calls made here on ET for the Euro to crash. If Greece really does carry thru on this threat, it'd be a game changer for sure. I'd bet this is just a threat to get more money from IMF, etc.
Just imagine how strong the Euro would get if Portugal and Greece, maybe Ireland, left voluntarily. Why should Germany et al even care if the weakest links stay; just as long as they're still part of the EU.
no impact on the euro if greece abandons the ship. in fact, if weaker economies exit the euro, the currency will become even stronger as its fundamentals will improve and the monetary policy will reflect that.