Wednesday, January 13, 2010

All Signs Point to a Greek Exit from the Eurozone

“Greece Will Have to Leave the Eurozone” writes Desmond Lachman for the American Enterprise Institute (AEI Today, January 12).

According to his experience at the International Monetary Fund where he has seen many “supposedly immutable fixed exchange rate arrangements come unstuck”, and especially that of Argentina a decade ago, Greece is approaching the final stage of its currency arrangement. “There is every prospect that within two or three years, after much official money is thrown its way, Greece’s euro membership will end with a bang.”

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