Tag Archives: “ECB Will Be Insolvent And Costs May Exceed 1 Trillion Euros” Says IIF Director; If The ECB Prints Would Germany Exit The Euro?

Mish/ Mike Shedlock – “ECB Will Be Insolvent And Costs May Exceed 1 Trillion Euros” Says IIF Director; If The ECB Prints, Would Germany Exit The Euro? – 26 May 2012

According to IIF director Charles Dallara in a Bloomberg interview, “ECB will be insolvent if Greece were to exit the euro. Europe would have to first and foremost recapitalize its central bank.”

Excuse me for asking but how would they attempt to do that? Print Euros?

Please consider Dallara Says Greek Euro Exit May Exceed 1 Trillion Euros

The cost of Greece exiting the euro would be unmanageable and probably exceed the 1 trillion euros ($1.25 trillion) previously estimated by the Institute of International Finance, the group’s managing director said. Continue reading