Monday, September 19, 2011


It's hard not to agree with Dr. Doom. Greece should default and leave the Euro.

Logically, therefore, if those three options aren’t possible, the only path left is to leave. A return to a national currency and a sharp depreciation would quickly restore competitiveness and growth, as it did in Argentina and many other emerging markets which abandoned their currency pegs.

Though I don't think it's going to happen.