Hedge Fund On Greek Eurozone Exit: ‘The Word Catastrophic Would Not Do It Justice’

drachmas greece

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From Reuters via Ekathimerini, London-based hedge fund Toscafund is warning of Zimbabwe-like hyperinflation should Greece attempt to leave the Euro.In a stark note to clients, chief economist Savvas Savouri said introducing a new currency instantaneously in the wake of a euro exit would be impossible and the delay would lead to «a run on banks and evacuation of capital that would make what has already been seen as nothing by comparison». 

“The word catastrophic would not do it justice enough,» said Savouri, who comes from a Greek Cypriot background.

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