The barely contribute to the global economy anyways? So if they leave why such a big deal? The majority of the Greek economy is working for the government or tourism. If they default and go back to the Drachma it will help tourism since being in the euro makes it expensive for tourists. Greece will probably be better off not in the EU
Because the euro risks taking a dent, which would make other EU countries default because they can't pay bonds because of a less valuable EU which would make multiple countries default, which would collapse the euro, which would collapse the EU, which would send Europe into a recession, which would send the world into a crisis.
Nonsense, Central banks will print a few trillions and after a 5% correction everything will go back to normal. Ben and Greenspan are geniuses for figuring this out!( Mugabe should actually get the credit but he's african so he doesn't count) S&P to 1000000000000! BUYBUYBUY!!! Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
Thats what I am thinking. ECB just needs to do what the US is doing and print out the debt. And for Europe if they have a cheaper currency it makes them more competitive in the global economy. If europe gets cheap, Americans will flock to europe and spend money.
no country has ever inflated its way to prosperity. it usually leads to an adolph hitler or juan peron and economic disaster. "]Thats what I am thinking. ECB just needs to do what the US is doing and print out the debt. And for Europe if they have a cheaper currency it makes them more competitive in the global economy." competitive devaluations, as u are suggesting, will lead to a depression just as it happened in the 30's.
Deflation brought the depression. People went to banks to try and take money out and they had non to give to depositors leading to bank holidays.