29.04.2015 - History shows a currency breakup isn’t always a disaster
Investors, economists and commentators have spent a lot of time agonizing over the prospect of a Greek exit from the euro, and not without justification. But the chart below from Adam Slater, lead economist at Oxford Economics, underscores the fact that currency breakups themselves are far from rare events and that, in most cases, the exit hasn’t been followed by a cataclysmic drop in output. In fact, more than 70 countries and territories have exited currency unions since 1945, notes Slater. And he observes that when steep falls in output did occur, it was often the result of factors like civil war or a transition from a planned economy to a market economy...............................................Full Article: Source
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