Grexit (Greece exiting Euro) what would be the consequences?

[i am nobody]

2 hours ago: Program for Greece will NOT be extended. Eurogroup wil continue WITHOUT Greece.
"A deathline is a deathline." was the comment.

When Greece started to talk about a referendum there was a small run on the banks. Banks that were normally open on saturday were closed and there a queues at the ATM machines, of which many are already empty.
Smart people took already their money out of Greece a long time ago. We will see what will happen on monday. Probably a disaster in Greece.

 

[marketsurfer]

Look out below on Monday-----

 

[sheda]

About time.

 

[clacy]

Either way this had to be dealt with. It could have a positive effect on the Euro currency. You might make the case that cutting your weekest link could make you stronger.

I can't imagine Greece brought much good to the table for the EU anyway.

 

[zdreg]

if Greece exits, or is forced out, I doubt once everybody sees the kind of austerity it will finally have to endure will inspire much of an exit contagion.

It just means bankruptcy. Finally! You are free from debt. But for a long while, you must be able to live with no credit.

I'm pretty sure there will be some bullshit deal by Sunday night. I'm going into the weekend 100% short eur and net long usd.

Either way this had to be dealt with. It could have a positive effect on the Euro currency. You might make the case that cutting your weekest link could make you stronger.

I can't imagine Greece brought much good to the table for the EU anyway.

it was my first thought but the addition of a growing migration issue suggests this economic mess is not nears its conclusion. maybe socialism has finally caught these nations in a black hole.

 

[sheda]

WHo thinks the Euro and the eu its self will exist in 2025?

 

[i960]

WHo thinks the Euro and the eu its self will exist in 2025?

I also consider this a possibility that Greece is just a canary in this experiment that is the Eurozone and EU. You cannot have a sane monetary policy that works for everyone with disparate political structures and no *real* union. This is not the United States of Europe.

Also ignoring all of that and even ignoring the current Greek debt issues just how is Greece supposed to succeed with the very high levels of unemployment present there? You also have Germany setting policy with its desires in mind that may not be compatible with all countries in the "Union" that further contribute to the problem.

 

[clacy]

WHo thinks the Euro and the eu its self will exist in 2025?

The concept of the EU always seemed like a long shot to me, but these things can go on a lot longer than one might imagine.

 

[hajimow]

Don't expect any outcome by this Monday and not even next Monday and maybe even more.

 

[i am nobody]

Europe will not disappear as a nation but probably shrink to the strongest (less socialistic) countries. So without the southern part of Europe ( Portugal, Spain, Italy, Greece) and without some eastern European countries (Hungary , Bulgaria..)... This option was already one time on the table.
Politicians in the European parlement receive scandalous salaries without having to work really and without any responsability if things go wrong. To protect these scandalous salaries Europe should continue to exist. Politicians (all over the world) ruin economies because they only thing about themselves and most of them have no clue what economy means (in my country most of them are lawyers). That's why worldwide all countries are deeply in debts now.
The timing of what happens now was planned. Now Europe and Greece have 48 hours to take financial measures, and it is even not sure if banks will open on monday. These things always happen in weekends.