France Most Threatened by Greek Euro Exit
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  • Anthony

    Regrettably, every shock to the euro must result in casualties; France is attempting minimize further shocks to its financial system – as Joseph Schumpter wrote an economic system cannot do without the ultima ratio…of the hopelessly unadapted.

  • I know I have to save bullfighting metaphors for the Spanish exit. so i will just say that while the rest of the Eurozone calculates whose ox will get gored by a Greek exit, much more time will pass before it is all worked out than the bald facts would suggest. Hollande’s newness to the job will make the negotiations take longer while the protagonists work out each other’s style. New Greek elections may produce a government willing to go along with some cosmetic version of austerity and keep the whole show on the road for some time to come. Look at Italy were a technocrat was appointed to run the government and implement a version of austerity in Italy.(Bishop X PM Huh?) Greece may get a similar caretaker PM if its constitution can be bent to make such a thing possible. I don’t think it’s over. In short I think the lights all over Europe are burning brightly while the oxen are being counted and the real deal being worked out.

  • Kris

    [email protected]: “I think the lights all over Europe are burning brightly”

    Interesting figure of speech.

  • [email protected] the reference to the famous comment about the beginning of WW1 just popped up as I wrote the. Comment.. Wikipedia tells me that it was said by Foreign Secretary Lord Grey just after sending an ultimatum that would commit Europe to war. I realize now that I was implying that the current End of Europe meme may be overdone. They need to face that a unified currency is not working out and that the real calculations now need to be done. Neurosis is sometimes defined as false suffering and I think the current crisis in Europe is caused by holding to fixed views not insurmountble obstacles. U

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