Short term: cheap holidays in Greece

Long term: who knows? IMO it would be a disaster for whole European project - Greece would almost certainly leave, if not immediately then as soon as they start to competitively devalue. For the UK, I would personally say that the precedent of Greece leaving makes Brexit more likely, though that's open to debate. The financial markets would of course wobble initially, but it's hard to say how they'd react beyond that as that will depend on how the rest of the EU/Eurozone reacts. I get the impression from Osborne that he just sees Grexit as an opportunity for the UK to make the most of the Eurozone's woes, which does seem to be a great idea in the long-run. Anyway, just a few thoughts.

Posted By: King, Jun 19, 15:18:32