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Cost of Losing Athens Can't Be Calculated
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The cost to France of Greece's exit from the euro would be 66 billion euros, and for Germany 90 billion euros, according to the director of research at the IESEG School of Management in Lille, France. Greece would pay back some of its debt with the devalued currency, so the actual cost might be lower. This is closer to the estimate of 50 billion euros for France by the departing French finance minister, and the estimate of 125 billion euros for Germany by a German bank. IIF estimates are much higher but the IIF and Mr. Dallara will find the bonds issued by Greece under the restructuring of little value in the event of exit from the euro, which is why it would not favor an exit and present it in a different light.
Preparation for Greece's exit from the euro currency and return to the drachma- November 2011-2012
07/01/2011
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