Petro One Energy Corp CUDBF

Greece Euro Exit Less Risky Now

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"For Greece, “the problem is not whether they are capable of paying their loans -- they will not, not at all, never,” Fuchs said by phone from his Berlin office. Greece is still a “special case” and the other 16 euro members will resolve their debt problems and retain the currency, he said.

‘Rich’ Italy

Fuchs dismissed the prospect that letting Greece go would trigger speculative attacks against indebted countries such as Spain or Italy. Italy is a “rich” country and banks would be able to withstand any contagion effect, said Fuchs, who also coordinates economic policy for the CDU caucus in the lower house of parliament, or Bundestag. Talk of contagion from Greece would be “right if we’re talking about two years ago.”

 

https://www.bloomberg.com/news/2012-01-12/greece-will-have-to-quit-euro-german-lawmaker-says-in-challenge-to-merkel.html