The Cost of Greece Exiting the Euro

The exit of Greece from the Euro will have a negative financial and economic impact according to the article What would a Greek exit mean for the U.S. economy?  Here is my take on some of the estimated impacts:

Private debt default -  $70,000,000,000

Public debt default - $460,000,000,000

U.S. GDP reduction  - 0.3%

Value of $1 - 1,000 Drachma at a minimum

Demonstrating again that Keynesian economics doesn't work - Priceless

It will be interesting watching whether Greece will eventually exit the Euro despite current claims of not wanting to do so.   I just don't see any possibility of Greece addressing its debt situation another way, despite people with much more authority than me claiming otherwise.


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This is not financial advice. Please consult a professional advisor.

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