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Greek crisis: drama or drachma?

There'll be a rough ride for Greece in 2015 but no significant impact on the euro area, says AXA investment managers
Monday, January 12, 2015 - 05:50
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In a worst case scenario, should Greece unilaterally decide to leave the Economic and Monetary Union so that the Bank of Greece is able to print money, a 40 per cent devaluation of the new Drachma may follow and Greece may turn into another Argentine case

PRIME Minister Antonis Samaras' attempt to buy time in order to complete the reforms pledged by Greece and get the last tranches of the loans promised by the European Stability Mechanism (ESM) (1.8 billion euros due in 2014 but postponed) and 7.1 billion euros from the International Monetary