After Greece Exits The Euro, What's Next? An Illustrated Guide To 5 Possible Scenarios
On the second day of 2012, the government of Greece die-cast 1 million gold-and-silver plated €2 coins, joining the 16 other euro zone members in minting a coin meant to celebrate the tenth anniversary of the adoption of the euro. Now, not six months later, that same government may well stop accepting those coins as legal tender.
Moving rapidly from the realm of tin foil-hat conspiracy, to a hushed taboo topic in global diplomatic circles, to a bullet point being openly talked about as fait accompli, an exit by Greece from the European common currency union is not unthinkable anymore.
Christened the "Grexit," such an event is now seen as a very possible outcome of three years of bailouts, sovereign defaults, austerity agreements and diplomatic maneuvering.
Last Friday, after months of denials, the European Union said it was working with the European Central Bank on contingency plans should Greece drop the euro. Similar emergency discussions were underway in countries as far away from Europe as Australia and Japan.
http://www.ibtimes.com/articles/345354/20120525/euro-crisis-greece-exit-drachma-default-geuro.htm
