May
24

Known Unknowns

If Greece leaves the Euro, the collateral damage to the rest of the Eurozone will result in a drop in US exports to Europe, damage to European banks resulting in reduced lending, and possibly bank runs in Spain and Italy. But what’s really scary, is the totally unanticipated consequences! When Lehman went under, it was the commercial paper market that seized. This time around, it’ll be something, but what?

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