Any euro exit must be made in total secrecy
27 November 2011 @ 18:28
If Greece – or any other country – were to leave the euro, it would have to be a total surprise, one probably announced on a Sunday ahead of the markets opening to stop a run on the banks.
So it could be today, or next Sunday or the one after that, but the point is that it would have to be agreed by the European Central Bank and Greece's central bankers once the markets are closed and before they open, so that no one – not the public, the corporates, or the hedge funds – has any idea that it's going.
And, according to a new study by Accenture, any talk of withdrawal or break-up of the eurozone would have to be met with complete denial by the bankers and the politicians, so it wouldn't be possible even to have a new currency printed in time.
Read the full article at the Independent
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