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Friday, January 16, 2015

Why a Grexit is more costly for Germany than a default inside the euro area | Zsolt Darvas and Pia Hüttl at Bruegel.org

Why a Grexit is more costly for Germany than a default inside the euro area | Zsolt Darvas and Pia Hüttl at Bruegel.org
Before assessing the details of the calculations, let us make our view clear: we think that a Greek default and exit are neither likely nor necessary. It is definitely in the interests of both Greece and its euro-area partners to find a comprehensive agreement that would avoid default and exit, which would make everyone much worse-off.

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