{"id":29829,"date":"2011-12-13T03:14:27","date_gmt":"2011-12-13T03:14:27","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/an_alarming_greek_contingency_what_if_it_drops_the_euro\/"},"modified":"2011-12-13T03:14:27","modified_gmt":"2011-12-13T03:14:27","slug":"an_alarming_greek_contingency_what_if_it_drops_the_euro","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=29829","title":{"rendered":"An Alarming Greek Contingency: What if It Drops the Euro?"},"content":{"rendered":"<p>It would be Europe\u2019s worst nightmare: after weeks of rumors, the Greek prime minister announces late on a Saturday night that the country will abandon the euro currency and return to the drachma.<\/p>\n<p>Instead of business as usual on Monday morning, lines of angry Greeks form at the shuttered doors of the country\u2019s banks, trying to get at their frozen deposits. The drachma\u2019s value plummets more than 60 percent against the euro, and prices soar at the few shops willing to open.<br \/>Soon, the country\u2019s international credit lines are cut after Greece, as part of the prime minister\u2019s move, defaults on its debt.<\/p>\n<p>As the country descends into chaos, the military seizes control of the government.<\/p>\n<p>This scary chain of events might never come to pass. But the danger that Greece or some other deeply damaged country in the euro zone could leave the single-currency union can no longer be ruled out.<\/p>\n<p><a href=\"http:\/\/www.nytimes.com\/2011\/12\/13\/business\/global\/a-greek-what-if-draws-concern-dropping-the-euro.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It would be Europe\u2019s worst nightmare: after weeks of rumors, the Greek prime minister announces late on a Saturday night that the country will abandon the euro currency and return to the drachma. Instead of business as usual on Monday<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=29829\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,50,460,582,589,595,592,149,591,200,590,454,585,596],"tags":[],"class_list":["post-29829","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-international-news-commentary","category-european-sovereign-debt-crisis-of-2010","category-consumerconsumer-spending","category-corporationscorporate-life","category-credit-markets","category-currency-markets","category-economy","category-euro","category-europe","category-european-central-bank","category-greece","category-the-banking-systemsector","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/29829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29829"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/29829\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}