May 23 (Bloomberg) — Bloomberg’s Sara Eisen reports that if Greek leaders decide to leave the euro, they would likely only have 46 hours to complete the transition over a weekend. Sara looks at the issues the Greek government would need to deal with in that timeframe. She speaks on Bloomberg Television’s “Inside Track.” (Source: Bloomberg)
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A lot depends on the election results on June, where there is a 50/50 chance that Greek elections may decide to abandon the World Bank/IMF bailout plan, when it is confirmed, there will not be any money coming from World Bank/IMF, but there is a EU firewall that will give Greece some time to prepare it’s Drachma, which will be devalued when launched, the problem will be how Greece will handle it’s debts when it is due, if Greece could enlist the help of World Bank/IMF to renegiotiate a deal with it’s creditors thru debt insurance and getting a higher loan with a longer time frame but paying a slightly higher interest, I am confident this can be achieved, but all parties must work together to achieve this, this is a worst case scenerio, and most likely EU will step in before this happens, so a Greece bankruptcy is unlikely.
Don’t believe what I say? I have an incredible ability to see any scenerios and calculating the most likely events to happen, I am dead accurate so many times with God assisting me. Want to lay a bet?
God place me here for a reason, and nothing spectacular will happen during my watch, because my God is not a God of mayhem and chaos.
– Contributed by Oogle.
