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Rothensteiner: Return to Drachma would be „Utter Chaos“

Published: May 21, 2012; 09:11 · (Vindobona)

The CEO of the Austrian RZB (Raiffeisen Zentralbank) warns of a Greek exit. At the moment, there would be not contagiousness for Spain or Italy.

Rothensteiner: Return to Drachma would be „Utter Chaos“ / Picture: © Raiffeisen Zentralbank Österreich AG / Peter Rigaud

In an interview with the Austrian newspaper “Kurier”, Walter Rothensteiner considers that an exit of Greece would cause “utter chaos”. Although banks have partially or completely written off Greek sovereign bonds, this scenario would be extremely unfavorable, Rothensteiner thinks.

“The country would have to shut down banks for weeks and completely isolate itself in…

This article includes a total of 417 words.

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