Skip to comments.U.S. Companies Brace for an Exit From the Euro by Greece
Posted on 09/02/2012 9:56:19 PM PDT by Lorianne
Even as Greece desperately tries to avoid defaulting on its debt, American companies are preparing for what was once unthinkable: that Greece could soon be forced to leave the euro zone.
Bank of America Merrill Lynch has looked into filling trucks with cash and sending them over the Greek border so clients can continue to pay local employees and suppliers in the event money is unavailable. Ford has configured its computer systems so they will be able to immediately handle a new Greek currency.
No one knows just how broad the shock waves from a Greek exit would be, but big American banks and consulting firms have also been doing a brisk business advising their corporate clients on how to prepare for a splintering of the euro zone.
(Excerpt) Read more at nytimes.com ...
Only unthinkable to the morons at the NYT.
People who know something about history - and who don’t substitute ideology for thought - have known that the Euro was a transient phenomenon since day one.
Here’s something even more unthinkable: the whole ediface is going to collapse. The only ones who will make out are currency speculators like George Soros.
I wouldn’t be surprised if they are already using the dollar as a de facto currency.
There is a definitive end point when a culture for three generations consumes more than it produces, creates unsustainable entitlements and squanders its capital on mindless consumption. That end point is not simply “dropping out of the euro.” The end point is poverty, misery and a loss of sovereignty.
This was my thought when I read that part about BoA thinking about sending truckloads of currency. Greece can join Ecuador, East Timor and the other countries who use the dollar.
I’ll be in Crete the last week of September. I guess I’ll get to see the collapse firsthand! :)
People from Northern Europe used to flock to the Southern countries for the weather and cheapness of vacationing there. The Euro made those southern countries not so cheap. Now they will be again.
Europe has the oxygen mask on a dead patient and thinks the rigor setting is really muscle tone.
Interesting article. Makes me wonder how much arm-twisting Obamugabe is doing to the Greek government to delay the exit until after the election. Imagine if the exit happened in the next couple of weeks? That would be enough time for repercussions on the U.S. economy to hit. Even worse would be if it happened in early October. The fear and MSM prognostication would be worse than the actual effect.