Source: bbc.co.uk/news/business
"• Roger Bootle and team, Capital Economics -
a country leaving the euro redenominates its government and consumer
debt into its own currency, which then falls sharply, and the country
then defaults on a large part of its debt to bring its debt levels down
to 60% of its economic output
• Cathy Dobbs, private investor - the euro disappears, with all holders of euros having their euro claims replaced by claims in the new currencies
• Jens Nordvig and Nick Firoozye, Nomura Securities
- debt contracts falling under national or local law should be
redenominated into a new currency, while debt contracts falling under
foreign law should be redenominated into a second European Currency Unit
(ECU)
• Neil Record, Record Currency Management
- if any country leaves the euro, the entire single currency must be
dissolved, with plans kept secret for as long as possible to prevent
markets from attacking structural weaknesses in other countries
• Jonathan Tepper, Variant Perception
- countries should exit by surprise over a weekend, declare an extra
bank holiday or two around the date of the exit and stamp the existing
currency until new notes are circulated; he argues that currency exits
and devaluations rarely lead to "Armageddon"
"
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