'Devastating Impact' Euro Exit by Southern Nations Could Cost 17 Trillion Euros

A new study by a German think tank warns that a euro exit by Greece, Spain, Portugal and Italy would cut global GDP by 17 trillion euros and plunge the world into recession, with France suffering the biggest loss. A Greek exit alone would be manageable, but must be avoided to forestall a domino effect, it says.
Protesters holding the flags of Greece and Portugal during an anti-austerity demonstration in the Portuguese city of Porto in September.

Protesters holding the flags of Greece and Portugal during an anti-austerity demonstration in the Portuguese city of Porto in September.

Foto: Paulo Duarte/ AP
Graphics Gallery: What Happens if the Euro Zone Collapses?
Foto: SPIEGEL ONLINE
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Graphics Gallery: What Happens if the Euro Zone Collapses?

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