As Greece Teeters, Fallout for Europe Uncertain

Most economists seem fairly certain a Greek departure from the euro would be a disaster indeed. For Greece.
But for the rest of Europe?
Some think a Greek exit, or "Grexit," would not in fact inflict serious damage on Europe's economy as it struggles to work past a crisis over too much government and bank debt. Comparing a Greek exit to the collapse of U.S. investment bank Lehman Brothers in 2008, which spread panic and deepened a global financial crisis, are misplaced, they say.
Others aren't so sure. They think that while short term market turmoil might pass quickly, letting a eurozone member leave could permanently damage the 16-year old currency that's now shared by 19 countries.



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