Rosaria posted:
The plan is for Greece to default and be ejected, or elect to leave, the EU. The EU has spent two years dealing with, and avoiding dealing with, the Greeks. They still have Italy, Spain, and Portugal to work through. They have a time and monetary limited LTRO that has to extend over multiple countries and their banks. Its a Herculean task with or without Greece. It may not feel like it but the rest of the world needs the EU to succeed and be strong. You have to decide if Greece is worth it, both in time intensity and financial cost. The rest of us just have to wait.
The plan is for Greece to default and be ejected, or elect to leave, the EU. The EU has spent two years dealing with, and avoiding dealing with, the Greeks. They still have Italy, Spain, and Portugal to work through. They have a time and monetary limited LTRO that has to extend over multiple countries and their banks. Its a Herculean task with or without Greece. It may not feel like it but the rest of the world needs the EU to succeed and be strong. You have to decide if Greece is worth it, both in time intensity and financial cost. The rest of us just have to wait.
And you can be sure that Italy, Spain and Portugal are watching and taking notes to see exactly how Greece is handled so that they can use that info against the EU when it comes their turn in the hot seat.
Right. Free.
