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5 Reasons Why "Grexit" Could Be A Good Thing For Greeks

Leaving the Eurozone could just be the Hellenic Hail Mary they've been looking for.

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1. Say "Hello" to Trade Surplus


With the Euro gone, the original Greek currency, the Drachma, would be resurrected. Unfortunately, this new Drachma would hold very little weigh in the exchange market. This means that rest of the world would find Greek goods and services cheaper than their own and buy 'em up! In turn, Greece would end up exporting more stuff than it imports, aka its Terms of Trade would be at Surplus.

2. They can inflate away their debt


Inflation would soar through the roof if Greece separates from the Eurozone. Though this might seem like a bad thing, the higher their inflation, the lower their real debt becomes. Real debt (as opposed to nominal debt) is the actual amount of debt Greece owes. It removes the effects of inflation/deflation over the years.

3. Foreign investment will be their new BFF

Sony Pictures

With an exchange rate like that, how could any foreign investor resist! Greeks could see new factories being built, investment properties being snapped up, and new jobs being outsourced their way. It might be scary to see so much of their country's prosperity at the mercy of foreign markets. But that's globalisation for you!

4. Everyone will want to holiday in Greece

Via Tumblr

Greece is a dream destination during any time of the business cycle. But with an exchange rate that favours the tourism industry, get ready to see Mykonos, Santorini, and Rhodes covered from head-to-toe in international bikini bodies.

5. They will be the makers of their own destiny

20th Century Fox

After decades of following a monetary policy that's done little for their economy, Greece would finally be the arbiters of their own financial fate. Monetary policy would be implemented by their own Bank of Greece, which would cater specifically to the needs of the Greek economy and not the entire Eurozone.

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