20 September 2011

EUROZONE / GREECE: Economists Mapping Out Scenarios...If Athens Defaults.

                                           NYTIMES / ANALYSIS / L.THOMAS
                                           2 screen read...combined.

     Venturing into macroeconomic weeds...economists...including in Germany...are already mapping out various outcomes...if Greece defaults.
     They predict slower economic growth in Europe...and the USA.
     Huge losses for European banks. Worldwide declining stock markets and tighter credit.
     Plus...the inevitable unexpected consequences.