Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
It is not the 'losses of 4 countries' that matters so much as the 'losses occasioned by the default and debt repudiation of 4 countries' and what really matters is who would suffer those losses.

The parenthesis (Greece ...) got in the way of comprehension. It should be "losses of 4 countries leaving", i.e., the direct financial losses including default and everything you mentioned.
The total economic damage is likely to be much bigger. Just imagine 2 to 3 trillion Euros leaving the Italian economy in a very short period of time because Italian savers aren't likely to cherish the idea of loosing 30 to 50% of their savings due to the devaluation that will invariably follow a EZone breakup. Such a vast drain of money will result in total economic collapse.
The fallout from a EZone collapse is likely to be worse, in economic terms, than the aftermath of WWII.
by The European on Sun Mar 10th, 2013 at 04:47:28 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Occasional Series