Friday, May 29, 2015

Just Sayin'

When the head of the IMF says there's a potential that the Greeks will leave the euro, that's means it's all but certain.  And when she says "it would definitely not mean the end of the euro," what she really means is that it would definitely mean the end of the euro. 

5 comments:

The Ancient said...

Last night at dinner, a private equity person from Manhattan asked me what I thought would happen in Greece.

I said I thought average per capita GDP would fall by 30% for at least 10 years. It might be worse than that, but no better.

(So much for game theory.)

FLG said...

It is really crazy. I guess they figure they can deflate their way out of it.

FLG said...

Sorry, meant devalue their way out of it.

The Ancient said...

http://www.project-syndicate.org/commentary/greek-default-political-suicide-by-anatole-kaletsky-2015-06

FLG said...

I'm pretty sure Alexis Tsipras has no fucking clue of the risks he is running. Is there any other explanation?

 
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