If Greece Exit's, which Tsipras's comments just now make seem very likely, it's the end for the Euro.
Will a collapse of the Euro likely mean the collapse of the EU, as well?
Hard to say. The whole world is balanced on a debt mountain that has to collapse eventually.
But knowing the end result isn’t nearly as important as knowing when it’s gonna happen.
Like zerohedge was saying.
1. Greek govt will print billions of “new drachmae” right before exit.
2. Greek govt will exit and set value of New Drachma to 1-1 on the EU.
3. Greek govt will repay debt by dumping new currency on EU
Well, how many of us on FR have only been saying this for the past 6 years?
Every now and then Greenspan’s crystal ball actually works.
Like “irrational exuberance”. Boy, was that a humdinger.