Quote:
Originally Posted by Eric
If the Greeks default and quit the Euro, they will have some short term benefits. The Drachma will be worth zilch; so their exports will receive a boost. And tourism will go through the roof. On the downside, lots of European banks will take a kicking. Major financial institutions will be replacing the toilet paper in their washrooms with Greek government bonds.  |
You've got the remember that the Greek banks are very much in hock to funding their own governments debts, if they had to ditch the Euro there banking system would totally collapse