Euro (Photo credit: Fernando D. Ramirez)
This is an interesting blog from Gavyn Davies the macro economist at the FT, speculating on the impact of austerity fatigue on the Euro‘s other troubled economies, apart from Greece. Check it out!
Greek lessons for the eurozone | Gavyn Davies | Insight into macroeconomics and the financial markets from the Financial Times – FT.com.
The article refers to savings being wiped out in countries that leave the Euro. If the Argentinian default example is anything to go by, the middle classes were effectively wiped out and they seriously struggled to put food on the family table in the twelve month after the default.