Arguments against Greek euro exit running thin

[marmar]

WASHINGTON (MarketWatch) — So the argument for Greece not defaulting and not exiting the euro run something like this:

A Greek default would make a pariah in international markets. A Greek euro exit would cause its depositors to flee, and leave not just the nation, but individuals and businesses with debts that overnight would jump by at least 25%.

The problem with those arguments is that they have basically come true anyway, with Greece in the euro and not yet in default. Data released Tuesday showed Greece’s economy shrank 7% in the fourth quarter.

That’s pretty awful for any time period — if measured the way the Greeks do on a non-annualized basis, the U.S. hasn’t seen that kind of drop-off since the Great Depression — but the problem is that the declines are sustained. .................(more)

The complete piece is at: http://www.marketwatch.com/story/arguments-against-greek-euro-exit-running-thin-2012-02-14

[xchrom]

1. think of the debt that's been added on since everyone went euro zone crazy.

i'm sorry i love the euro zone -- i think it's a great idea -- but at some point this needs to be let go.
it's damaging every body.

[marmar]

2. Agreed. ..... I love the idea and it's great when you're visiting, but......

....... it was probably doomed from the start.

[dipsydoodle]

3. As far as I'm aware

all that the current bailout serves to achieve is to refinance the current debt and in doing so move the problem 6 months into the future.

[msongs]

4. corporations will demand 2 liters of blood from every greek nt