Yannis Sturnaras, head of the Greek Central Bank, said in his speech today that in case of reticence between Athens and creditors, Greece will default, refuse from the euro and will go out of the European Union. Chairman of the Central Bank also promises big problems. However, experts advise not to panic, as these words are unsubstantiated and create the illusion of danger. On the economic side, all the problems that are described by Sturnaras will not have any serious consequences.
The total capitalization of shares in free use of Greece - about 19 billion euros, which is 0.2% of stock market of the EU. Greece's GDP has 1.5% of the total EU exports and imports of country - about 1% of the pan-European scope. Even the debt in 324 billion euros is considered rather small on the background of the whole market:
The largest share of debt, as we see, this is the European states. In the event of default of debt data there will have a place to be political consequences, but no one will go bankrupt. If Greece leaves the EU without paying off debts, the situation would be similar to the collapse of the Soviet Union. Nevertheless, the current situation is much better due to the strong economic bloc. Greece will be hoping for "allies" help such as Russia, however, and there are some doubts.