The Bankwatch

Tracking the consumer evolution of financial services

Greece ponders the unthinkable

There is likely a little grandstanding for the benefit of the Euro leadership in Michalos comments, yet as a technocrat it only makes sense to consider the implications of all alternatives.

Athens rehearses the nightmare of default |

On Friday afternoon, Constantine Michalos, president of the Athens chamber of commerce, sat in his office – around the corner from where protesters were hurling chunks of marble at riot police – and contemplated what was once unthinkable:

“All hell would break loose,” Mr Michalos said, sketching a society that would quickly run short of fuel, food, medicine and necessities. “You would have social upheaval.”

Written by Colin Henderson

February 18, 2012 at 14:10

Posted in Uncategorized

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