Neville Prior

Greek Exit

Neville Prior  29 May 2012 12:55:04 PM
What could a Greek exit look like.............here is a view :
  1. One Friday, (who knows when, but perhaps in June), approx. 4:00pm, the Greek Government/Central Bank announces it is leaving the Eurozone. Not much time for panic before the weekend.
  2. Lots of Euronotes stamped with a big D  for Drachma over the weekend, and banks closed for a week or so, to stop cash withdrawals.
  3. Eurozone institutions spend lots of time and money on ensuring Spain, Italy, Portugal, Ireland don't fall into the abyss.
  4. Greek Drachma devalues, and Greece now really cheap.
  5. Lots of tourists go to Greece, and Greek economy grows by at least 5% over the next 12 months.
  6. Euro starts to strengthen..................and by the middle of 2013, there is some semblance of "normality".

Happy days.............(or there again, it could just be complete chaos).

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