Wonder what it'll do to the Euro? Want to buy some stuff from Denmark and don't know when to commit
I predict that they'll first threaten and then begin to move towards pulling out of the Euro Zone and the reintroduction of the Drachma.
There'll be some major uproar and public pressure, with the bigwigs in Brussels and Strasbourg calling for calm and security.
This will instigate some 'readjustments' in their austerity measures forced upon them by the EU, IMF and others based on public pressure.
The Greeks will be slightly happier, and then other nations will threaten the same. However, the majority of the posturing will be a sham.
In all reality they can't afford to exit the Euro Zone. With decreased in real GDP, their value on departure will be a pittance.
To do so would seriously inhibit them as a nation for a minimum of a decade, if not even more. They know this. The Euro Zone know this.
It would also set an awful precedent for the likes of Italy, whose departure would be catastrophic. Eventually we'll get a best fit agreement.
It could be the death nail for the Eurozone, but rather I think it will be nothing more than another chip at its long term sustainability.
