Friday, January 13, 2012

Greece Fire: complete economic and societal destruction predicted if they leave the Euro Zone

A London based Hedge Fund, Toscafund, came out yesterday with an analysis of what would happen to Greece if they should voluntarily, or be forced to evacuate the Euro Zone.  The results are not pretty as the fund predicts hyperinflation, massive riots and social unrest, and a potencial coup which would topple the government.

"A Greek exit from the euro zone would be worse than catastrophic and could provoke greater social unrest, Zimbabwe-style inflation and a military coup, said London-based hedge fund firm Toscafund. In a stark note to clients, chief economist Savvas Savouri said introducing a new currency instantaneously in the wake of a euro exit would be impossible and the delay would lead to "a run on banks and evacuation of capital that would make what has already been seen as nothing by comparison". "The word catastrophic would not do it justice enough," said Savouri, who comes from a Greek Cypriot background. "Those who imagine some post-euro-exit stability would be restored ... quite simply fail to understand the magnitude -- social, economic and political -- of such an eventuality." - Zerohedge

Citizens of the Mediterranean country should make sure to stock up on ouzo, since its alcoholic content makes wonderful molotov cocktails.


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