More lies from yet another EU ‘dead ender’, the Euro could survive a Greek default. Moronic. KGS
Finance Minister: Eurozone could survive Greek default
Published: 26 Jun 11 12:37 CET
Schäuble said he and his European counterparts fully expected the Greek parliament to pass a crucial austerity package this week despite massive street protests and resistance from the opposition, but would manage if it did not.
“We are doing everything we can to prevent a perilous escalation for Europe but must at the same time be prepared for the worst,” he told the Bild am Sonntagnewspaper.
Schäuble said the experience from the 2007-2008 global financial crisis, triggered by the bankruptcy of the US investment bank Lehman Brothers, showed that the world economy could bounce back from a disaster.