Greece is back on the brink. Their stock market won't open tomorrow and it will be a bank holiday. Unless somebody on either end of the negotiation table sells out quick, Greece will finally be done after half a decade of can kicking. http://www.zerohedge.com/news/2015-...ea-calm-greeks-storm-atms-stores-gas-stations But I don't understand the argument that this could start a chain reaction of other countries leaving the Euro. Why? Greece will crash and burn if this continues. Why would that encourage anybody to follow their lead? I understand the possibility of a Syriza-like political party rising up in Spain or Italy, and that would shake the global financial system very quickly. But certain market participants seem to think that the potential Greek collapse is a catalyst for other countries somehow. Can anybody explain this line of reasoning? Odds are, Spanish, Italian, and Portuguese bonds will be sold this week for that very reason and it doesn't make sense to me.
A Greek exit from the eurozone would send shock waves through markets around the globe. Greece would default on the €1.5 billion debt to the International Monetary Fund on Tuesday and investors could lose billions due to turmoil in stock markets. For Greece's future, bringing back the drachma by ditching the euro seems to be the only option available. Greece would survive the economic crisis in the long run but the IMF may need to write off Greece's debts to help the Greek economy recover. Around 30-35% of modern Greeks have remote African ancestry through Haplogroup E and an African solution is suitable for Greece (i.e. the partial or total forgiveness of debt.)
it would set a dangerous precedent if one country left the eurozone, the ways the laws are written they legally aren't even allowed too, this would cause investors too lose confidence in the euro, "if greece exits then who is next"? The P.I.I.G.S. portugal, ireland, italy, greece and spain. would likely be the first too leave, and it is possible the remaining countries could simply "sever off" these countries from the euro, and remain solvent, but it might actually lead to the collapse of the entire eurozone. http://www.theguardian.com/business...trigger-eurozone-collapse-says-alexis-tsipras
I think racist theories like this have alot to do with the euro, germans would likely be doing much better without the euro, and it's largely viewed as reparations for WW2. But without a genuine will to develop all the countries in the eurozone, like turkey and greece, countries hitler described as mongrels. Then these "browner" european countries will stagnate and eventually be forced into default, as their interest on their debt will always surpass their growth rate. I"m all for large currency unions like the eurozone, but i think europeans are too racist towards eachother for it too work there
