Alan Greenspan, former chief of the US Federal Reserve from 1987 to 2006, predicted a Grexit. Speaking to BBC, Greenspan said he could not see who would be willing to put up more loans to bolster Greece’s struggling economy.
“I believe [Greece] will eventually leave. I don’t think it helps them or the rest of the Eurozone – it is just a matter of time before everyone recognizes that parting is the best strategy,” he said. “The problem is that there is no way that I can conceive of the euro of continuing, unless and until all of the members of Eurozone become politically integrated – actually even just fiscally integrated won’t do it.”
The same BBC article points to Berlin’s unwillingness to alter the terms of the 240-billion-euro bailout agreement for Greece. Greenspan stated that all the “cards” are held by Eurozone members.
He said that there is a “strain” on the 19-nation Eurozone member-states to stay together and pointed to the risk of a “much bigger break-up” that could include other southern European countries being forced out.
To see the originar article in the Greek Reporter go to