Tuesday, January 6, 2015

Two years on, a Greek exit is even likelier

by Ed Conway


January 6, 2015

Greece’s leftwingers and many eurocrats think there could be benefits if Athens quit the euro. Both are wrong

Before we begin I should make a confession. Two and a half years ago, when Mario Draghi ended the euro crisis, I nearly missed the story.

I was there, at Lancaster House in London, when the European Central Bank president pledged to do “whatever it takes to preserve the euro”, but my mind was not. Moments earlier, a leading policymaker from the so-called troika, which led Europe’s bailouts, had taken me aside and whispered that Greece was on the brink of leaving the single currency.


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