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'The cost of Greece exiting the euro would be unmanageable and probably exceed the 1 trillion euros ($1.25 trillion) previously estimated by the Institute of International Finance, the group’s managing director said. '

'The European Central Bank’s exposure to Greek liabilities is more than twice as big as the ECB’s capital, said Dallara, who represented banks in their negotiations with the Greek government on its debt restructuring. As a result, he predicted the bank would be unable to provide liquidity and stabilize the euro-area financial sector.

“The ECB will be insolvent” if Greece were to exit the euro, Dallara said. “Europe would have to first and foremost recapitalize its central bank.” '
http://www.businessweek.com/news/2012-05-25/dallara-says-gre...
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GG/MDP Home Fool
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I increasingly think Greece will stay, at least for now. They'll be bought off in some shady way, until the crises is over and they can exit more quietly in a few years. Greece was always the sideshow anyway - Spain is where the action is.
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How do you think the crisis can be solved? You must think it will be solved if you think it will be over.

The only way I think the crisis can be solved is by addressing the root cause: The misalignment in competitiveness. So either Germany exits or Greece, Spain, Italy and later France exit (in that order).

All the talk is about addressing the debt. This is only a sympton, so it helps nothing to make the symptom go away!
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