Tuesday, May 22, 2012

Former Greek Prime Minister Talks About Euro Exit

I think they need to just pull the band-aid off of the wound and leave the Euro already. This he-said-Papa said BS is beginning to look stupid.

Greece's financial stability fund approved an 18 billion euro ($23 billion) injection of capital into the country's four biggest banks on Tuesday and will release the funds on Wednesday, a fund official said. 

At the same time, news reports quoted former Greece Prime Minister Lucas Papademos as saying that preparations for the country's exit from the euro zone are being considered.

I think the IMF needs to get some economists together in a room and hash out exactly what the fallout would be if Greece left the Euro by a certain date. They can look at the potential losses and different exit scenarios so we can get some clarity on this mess.

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