US-Analyst Josh Rosner warns: "A Greek exit from the eurozone would entail chaos"

With Germany’s economic minister Philipp Roesler’s comment that many politicians no longer considered a Greek exit from the eurozone a tragedy, the discussion about the future of the common currency has taken yet another turn towards a potential breakup. But Josh Rosner, managing director at independent research firm Graham Fisher & Co warns: “A Greek exit would entail chaos in the eurozone and would be the most costly solution for everyone.” Rosner sees a decisive step towards further fiscal integration as the least costly solution. However, “even that will be much more costly than what German politicians try to make the public believe. German bund yields do not reflect the fundamentals and might adjust quickly to 2.5 percent or more.”

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