Tuesday June 30, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
JPMorgan chief warns of 'catastrophic' Greek euro exit

JPMorgan Chase & Co Chief Executive Jamie Dimon believes a Greek exit from the euro could have “catastrophic” consequences for other countries and the single currency.

If Greece had defaulted when its debt problems became clear, it «wouldn't have been a big deal,» Dimon said during a talk at Rice University, according to the Wall Street Journal. But a Greek exit from the euro would have been «catastrophic,» as it would have triggered a run on Italy and Spain, according to Dimon.

The Wall Street Journal reports Dimon as saying this would also have sown confusion among investors and businesses trying to assess whether contracts would be priced in euros or in local currencies.

"When they restructure the euro treaty, they should allow an orderly exit,» the JPMorgan CEO said.

ekathimerini.com , Thursday April 12, 2012 (11:17)  
Greeks check goods online, buy at stores
Closure of country’s banks leads commerce to grind to a halt
Public coffers run dry as taxes go unpaid
ATHEX: No trade until next Tuesday at the earliest
Tsipras says ´no´ vote will help talks but ´yes´ will prompt political developments
Prime Minister Alexis Tsipras indicated on Monday that Greece was still open to an agreement with creditors, “even at the 11th hour,” made it all but clear that a payment due on Tuesday to t...
EU officials say referendum is on euro or drachma
A number of European leaders warned Greece on Monday that Greeks face a choice between the euro and the drachma when they go to vote on Sunday, regardless of the government insisting that a ...
Inside News
SOCCER
English keeper Steele stays with Panathinaikos
English goalkeeper Luke Steele has extended his contract with Panathinaikos until the summer of 2018, the Greek Super League club announced on Monday. Former England youth international Stee...
VOLLEYBALL
Great wall of China insurmountable for Greece
The Greek men’s national volleyball came mighty close to snatching a spot in the Final-Four of the World League’s third division, but eventually succumbed to China in front of some 4,000 fan...
Inside Sports
Switching the rules for the referendum
The legislative decree that the government just issued changes in its favor the rules that apply for the carrying out referendums. It states that «if it is not possible to put together one s...
COMMENTARY
Playing the last chips
Prime Minister Alexis Tsipras played his last chips and the country is already experiencing the results. If he has come to terms with the idea of Greece returning to the drachma then you can...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Tsipras says ´no´ vote will help talks but ´yes´ will prompt political developments
2. Greeks check goods online, buy at stores
3. Closure of country’s banks leads commerce to grind to a halt
4. Public coffers run dry as taxes go unpaid
5. ATHEX: No trade until next Tuesday at the earliest
6. Double default day for Greece?
more news
Today
This Week
1. Greek government says no limit on bank withdrawals for foreign tourists
2. Playing the last chips
3. Poll shows chances of Greece euro exit balancing on knife's edge
4. Referendum asks Greeks simply to accept or reject creditors' plan
5. Cautious Merkel on verge of biggest risk with 'Grexit'
6. ECB rejected Greek funding line request for extra 6 bln euros, say sources
Today
This Week
1. Greek government says no limit on bank withdrawals for foreign tourists
2. Greek referendum offer is more con than democracy
3. Greek negotiators learned of referendum proposal from Twitter
4. Greeks want to stay in eurozone, two polls show
5. A decision with no preparation
6. Europe, a big phony
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.