How Greece could leave the eurozone in five difficult steps
Mass unemployment in Greece, inflation at 50%, a devastating recession and Greeks heading for the borders – that’s the apocalyptic scenario being painted by some economists in the increasingly likely event that Greece leaves the eurozone in coming months.
Greece is small in economic terms: it contributes only 2.2% of eurozone GDP. But withdrawal from the single currency would unleash chaos in the country, and have potentially severe knock-on effects on other euro nations. [full story…]