Sunday, November 6, 2011

Europes worst case

I recently read the article Europe and Greece: The Worst-case scenario.  What if Greece decides that they want out? If Greece decides that they want out they will essentially abandon the euro.  If Greece opts out then European economies would cut off all aids.  They would then lose the ability to get credit.  The economy would then collapse to a cash only basis.  The citizens of Greece would rush to their banks to withdraw all of their money.  Essentially that could leave to catastrophic events all over the world.  Lets hop that they reach a deal and get something figured out so the long term effects are not felt by us.

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