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Yanis Varoufakis estimates a Grexit could cost the world more than a trillion euros in losses

Yanis Varoufakis estimates a Grexit could cost the world more than a trillion euros in losses

Greek Finance Minister Yanis Varoufakis…

“The investors, stockholders and citizens will constantly think that the Eurozone is not an indivisible unity.”

Via Sputnik News Agency…

The finance minister also estimated that the so-called Grexit would cause the international economy a trillion euros in losses despite the above political damage.

Varoufakis was firm in rejecting the possibility of the extension of the latest aid program to Greece and called for a new agreement between Athens and its international lenders.

Varoufakis offered to solve the Greek debt crisis via a 30-year loan with a relatively low interest margin from the European Stability Mechanism (ESM), the purchase of bonds at the disposal of the European Central Bank (ECB) and their immediate withdrawal.

See Also

References:

http://sputniknews.com/europe/20150614/1023359677.html

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The entire Euro economic model is flawed moreover, there is monetary union but not fiscal Union ! It’s like a Bike with no wheels. The idea that Germany can have the same Currency ( medium of exchange), as Portugal, Greece and Cyprus is unworkable and , the disaster unfolding is evidence of what is to come. Let us not delude ourselves into believing that increasing this debt will improve the situation that the Nation’s like Greece are in. If Greece does not leave the Euro ( and possibly the EU), that Country will be destroyed, of that I have no… Read more »

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