Friday, May 25, 2012

Dallara: Grexit will bankrupt the ECB, cost a trillion euros

Some have suggested that the Sober Look half a trillion euro rough estimate cost of Greek exit from the Eurozone was exaggerated. Try something closer to a trillion. That's the cost estimate by the Institute of International Finance (IIF). What's more, the exit will render the ECB insolvent. Watch the Bloomberg interview with Charles Dallara, managing director of IIF (he represented the creditors in the Greek debt restructuring).
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