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Intel Corporation Message Board

  • wallisweaver wallisweaver May 20, 2012 10:32 PM Flag

    'Grexit' Not Happening, Lemierre Tells India Daily

    [Stewie weeps as futures move up...]


    It’s a great sound byte.

    It’s a great Tweet.

    But the media meme about Greece leaving the euro won’t prove prophetic says Jean Lemierre, the chief negotiator for private creditors in the Greece bailout plan. In an interview with The Economic Times of India, published on Monday, Lemierre rules out Eurozone disintegration sparked by a “Grexit”.

    Some takeaways from the ET’s Q&A:

    I do not believe that Greece will exit the Euro zone. Greece will not wish to do so and other countries will not want it to make an exit. The European countries, IMF and Greece have gone through many discussions, support programs have been put in place and money has been allocated. The last program has provided a support of 130 billion euro for Greece. The private sector has accepted a voluntary haircut of more than 100 billion euro. Of course, there are conditions put by the European Union and IMF. It’s tough; the adjustment process is always painful. It has an impact on growth and more so on people, it has an impact on jobs, wages and income of the people. So, everybody understands that it is difficult times for Greece. But it is also the only way out of the crisis. If they were to leave the Euro zone, which they will not, they would go through extreme poverty and more difficulties than now.”

    And what about the Draghma solution? A return to Greece’s old currency and old way of being (which apparently it never really left once it entered the common currency in January 2001.

    Going back to the Drachma, what does that mean? Today, they get support from E.U. and Euro zone countries: exceptional programs, refinancing of the Greek banks by the European Central Bank. If they go alone, they will lose that support. That will be worse for them. Those who advise them to go back to the drachma, should think about the additional pain that isolation would create. They are better off within the Euro.”

    For full interview visit The Economic Times.

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    • you must be kidding me, this rally is temperory, wait till the downtrend starts once again it will be more severe. This just an oversold bounce. Watch and learn, unvestors are not stupid. The only think that can push this rally on is the fed with a QE3, which is likely like i have said but it will come in Jun-Jul2012 time frame when the mkts have been battered. have a nice day. Buy dividend stocks like BP TOT FTE ERH PGH INTC etc

    • Greece leaving the Euro won't be the end of the world -
      it's actually the better solution....
      If they were to leave the Euro zone, which they will not, they would go through extreme poverty and more difficulties than now.”
      that's BS
      they will get some kind of Marshall plan...
      The only concern the Euros have Greece leaving the Euro would be that there would be no power to force the Greek to get their act together.
      Tourism is supposed to be a driver but Greece is now in self destructive mode and tourism is in the shitterforc

    • Greek economics and politics undoubtedly impacts global companies but this is neither an issue that effects Intel uniquely nor one anyone in Santa Clara can do anything about.

      If someone believes Intel is well positioned for the future it's well positioned independent of what the citizens of Greece decide to do.

      Besides do you really think the Chief Negotiator for private creditors is neutral on this topic?

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