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A Greek exit from the euro has become a bomb fizzling at the heart of the eurozone. What could happen if it explodes?
This is really interesting. When I was learning about this I realized that Greece is pretty much screwed no matter what they do. However, if they leave it will hurt more countries than if they just stick to the euro.
Money controls everything. Because parliament has to make some budget cuts, money must be spent elsewhere. Because of this, Greece leaving the euro could lead to a downward spiral including a sovereign debt crisis, a recession and political backlash. Should Greece keep the euro?
This article explains eight possible outcomes of Greece leaving the Euro Zone. None of them favorable for Europe, except maybe the UK which could possibly borrow more cheaply. For the rest of Europe, the results are either increased burdens for the more economically strong EZ nations like Germany, or a domino effect which accelerates the decline of the struggling economies of countries like Italy and Spain.