GREECE’S GRAND PLAN: DEFAULT, AND STAY IN THE EURO; ‘SHOULD GREECE FALL INTO ARREARS, MARKETS WILL LIKELY BE GRIPPED BY CHAOS,'; “ANYONE WHO PRETENDS THEY KNOW WHAT WOULD HAPPEN THE DAY WE’LL BE PUSHED OVER THE CLIFF…..IS TALKING NONSENSE."

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April 26, 2015

Mehreen Kahn, writes in the April 26, 2015 edition of London’s TheDailyTelegraph, that “there’s a new theory doing the rounds in the ‘Grexit, Or No Grexit,’ debate. Unlike the wildly-held conjecture that a default would lead inexorably to Greece’s ejection from the Euro Zone, analysts and economists now think there are a number of ways the debt-addled country can retain its membership of the Euro — while stiffing its international lenders.”

“With the country’s bail-out drama continuing into another month, even Berlin has reportedly begun drafting plans to deal with Athens failing to make its obligations without a ‘Grexit,’ Mr. Kahn writes. Moreover, “a default within the Euro is not is not as unprecedented as it sounds,” he adds. “Greece effectively defaulted on lenders when it underwent the largest private sector bond restructuring in history, in 2012. “The actual cost of severing Greece will prove equal to that of dismantling the Euro Zone itself, painfully, slowly, catastrophically,” wrote Yanis Varoufakis, wrote in his blog three years ago.