The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government's actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area's finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night. http://www.spiegel.de/international/europe/0,1518,761201,00.html
Just been watching Greek TV - it's the main news on various Greek channels and all the Greek officials and politicians saying this is a nasty rumour deliberately spread by speculators etc etc.
despite the strong anti- E.U./IMF feeling -similar to that here in ireland most Greeks know that reverting to the drachma is pipe dream
But I can't see any real advantage for Greece in leaving; only disadvantages. Collapse of currency values, rocketing inflation, default etc. Let alone the practicalities of HOW you could do this. Printing presses running to reprint a defunct currency, ATMs changed, parking meters, everything. It does seem very far-fetched. The Euro dropped against the dollar,it sounds more like speculators out to make a fast buck or something.
But I can't see any real advantage for Greece in leaving; only disadvantages. Collapse of currency values, rocketing inflation, default etc. Let alone the practicalities of HOW you could do this. Printing presses running to reprint a defunct currency, ATMs changed, parking meters, everything. It does seem very far-fetched. The Euro dropped against the dollar,it sounds more like speculators out to make a fast buck or something.