Evi Pappa the Greek Professor of International Macroeconomics and Monetary and Fiscal Policy believes a Greek exit from the euro could have wide-ranging consequences for other European countries. Pappa in an interview with Sam Bollier for Aljazeera, states “The Greek election results express the anger of the Greek population. They had somehow to punish the two political parties that have been in power the past 20 years. So they voted in anger and in protest… I think that most of them realise that leaving the euro is going to be disastrous for Greece. …You would expect three things if Greece leaves the euro: inflation, devaluation, and banking collapse. …Inflation is sometimes good. But the problem is that Greece is not going to experience inflation. It is going to experience, most likely, hyperinflation. Hyperinflation is not good at any time. …Modern Greece, like Antigone [Classic Greek tragedy of Sophocles], is condemned to the austerity measures of the European Commission, burying it alive, and it looks like, when the Europeans come to her mercy, it might be too late – and Greece might commit suicide by deciding to leave the eurozone. I don’t have a lot of hope for Greece.”


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