Greece Defaults. What now?

[Qwark]

routsounmanman said:

Qwark said:

The British are way more important and we are better of with them as for Greece I am starting to doubt that. By the way we should thank the Brits for  not wanting Eurobanking or European constitution.

While Greece may not be as important or powerful as Britain, I think you're underestimating this:

1) It's not just about economy. Notice our position in the map? Our military / navy strength? Our relationship with Arabic / Slavic countries and Russia? 

2) It would create a precedence a member leaving the common currency. Try to assure the markets that Portugal won't be next.

EU has much more to lose that 300 billion debt and 200 billion GDP.

On your frist point the NAVO is bigger than Europe unless you want US, Canada, Japan, South Korea and Turkey on your bad side choosing Arab or Rusia isn't smart.

 

On your second point Portugal, Spain etc  aren't even near Greece in therms of corruption, debts etc. So I don't think there will be an enormous financial hit for Europe. Since you have to make an effort to get kicked out of EU.

 

So I think EU can cut off Greece without major problems.