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View Diary: If the Euro fails. (282 comments)

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  •  If these countries go back (4+ / 0-)
    Recommended by:
    LynChi, Bronx59, Cliss, Creosote

    to their old currencies, grossly devalued, their debt will still be denominated in Euro. Very bad!

    "We have cast our lot with something bigger than ourselves" - President Obama, July 30, 2010

    by Overseas on Sun Nov 27, 2011 at 11:26:44 AM PST

    [ Parent ]

    •  They will default, plain and (1+ / 0-)
      Recommended by:
      Odysseus

      simple.  
      Clean slate, terrible credit rating.  Let their banks go bust and prosecute the bankers.
      Iceland handled it that way and today is thriving.

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