Eric King: “John, what will be the ramifications of a severe misstep by the EU over this Greek crisis?”
John Hathaway: “That’s the $64 trillion question. Spain and Italy are both waiting and watching. It could lead to a breakup of the eurozone. But I can tell you that if it takes a bad turn for Europe, it would fall into the category of a loss of confidence in paper money….
“This situation with Greece is very tricky and you would think a small country like Greece, how could they put a monkey-wrench into the whole eurozone? Obviously the finances of various countries in Europe are intermingled, and extricating Greek credits from the rest of the eurozone is easier said than done.
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