Tag Archive for Foreign Debts

Eurozone Debt Crisis: What to Expect if Greece Dumps the Euro

The only certain thing if Greece leaves the Eurozone is the uncertainty that will certainly follow.

Unable to form a coalition government during May elections, Greece has been forced to hold a second vote on June 17.

In the balance is the future of the Eurozone itself as a “Grexit” looms large.

So much is riding on the outcome that U.S. President Barack Obama and other leaders of the G-8 have conveyed their optimism that Greece will remain in the Eurozone when they convened for a summit on Saturday aimed at keeping Europe’s economic woes from stretching around the globe.

“All of us are absolutely committed to making sure that growth and stability and social consolidation are part of an overall package,” President Obama said.

But many other principals and economic experts are not as committed and believe a Greek exit would be the best move in the long run.

The question is what impact its departure will have beyond its own ailing borders if Greece renounces its debt and leaves the Eurozone.

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