By Prof Anastassios Retzios
There are statements that Greece leaving the Euro would constitute “suicide”. I will try to discuss this matter clearly and without undue emotional exaggerations. First of all, let me state that those who argue that,“leaving the Euro is suicide” actually lives in an EU country that does not participate in the Euro! He may argue that this policy makes sense for the said country because it has a “strong” economy and extensive industrial base but it does not for a “weak” country such as Greece. I hope that I can prove that exactly the opposite is true: that the Euro suits countries that are at the same level of development and industrial activity, but it is a poverty-inducing straight jacket for poorer and weaker economically countries such as Greece, forcing them into what really is a fixed-exchange rate trading block that lacks fiscal adjustments.
