On Fri, Jul 17, 2015 at 12:33 PM, Gar Lipow <[email protected]> wrote:
> And yes, a friendly Grexit that was not devastating to Greece would > require billions in currency support from the EU - making it utopian in the > worst sense. > Why is this utopian? I can think of many good reasons for the EU to spend the necessary billions to ease a Grexit. - An orderly Grexit is in the interests of everyone in the EU, not just Greece. To put it slightly differently, a disorderly Grexit would be a geopolitical nightmare for the EU, not just for Greece. I think the EU leaders understand this, even Schauble. - Everyone knows that the Greek debt needs to be written down and restructured. A Grexit would be a perfect opportunity to do this unpleasant task in a way that is politically acceptable to the other countries. You don't have to admit your own previous mistakes if you can blame all the losses on the costs of a Grexit. - And the best reason of all: once a Grexit is underway, the Syriza uprising would have already been utterly defeated, so there is no further political incentive to keep piling on the misery. Just because it seems like a good idea doesn't mean it will happen of course.. -raghu.
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