Reuters – The unthinkable…

http://blogs.reuters.com/great-debate/2009/01/16/betting-on-the-unthinkable-in-the-euro-zone/

Ακομα ενα blog που αναφερεται στο ενδεχομενο εξοστρακισμο της Ελλαδας απο το Eurozone, αυτην τη φορα στο Reuters.com απο τον James Saft.

To be clear, the chances of a country leaving the euro zone currency project are still extremely small, though it now rates as a possibility for discussion in polite company.

For one thing there is no escape hatch, no plan as to how a national currency might be reborn. For another, there is the matter that while a bit of a weak currency and an accommodative interest rate might seem attractive at first blush, the reality would include much higher interest rates and the real risk of a Latin-American style inflation and currency crisis.

“Put very simply if either Greece or Italy, for example, left, the sort of spreads they are trading on at the moment would have to treble,” said Marc Ostwald, strategist at brokerage Monument Securities in London.

“There would be colossal inflation in both countries as a result.”