Monday, May 14, 2012
This started last week, but it’s now becoming a hot trend: It’s no longer taboo to talk about Greece leaving the Eurozone.
The FT is running a story about how central bankers are now, increasingly discussing it openly.
Bloomberg is also quoting various finance officials around Europe saying the same thing, that a Greece exist is not desirable but possible.
The recent cover from Der Spiegel, titled Akropolis Adieu, also shows how the idea of Greece leaving the Euro has permeated mainstream thinking.
Bottom line: Between Greece bickering internally, and serious people in Europe talking about how the Eurozone could handle a Grexit, the country’s position is looking more and more tenuous.
The two main things keeping it in: Eurozone membership is extremely popular in Greece. AND people think that an actual departure would be horrible for Greece and the rest of Europe, possibly leading to the collapse of the Eurozone altogether.
The fact that its departure would be such a nightmare seems to be why people still don’t think it will happen.