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Il Sole 24 Ore - Italy | Tuesday, June 2, 2015

Europe would pay dearly for Grexit

The scenario of a Greek bankruptcy must be avoided at any cost, the liberal business daily Il Sole 24 Ore writes, welcoming the creditors' attempt to make a "final offer": "The Europeans should reflect on what it means to talk of a Grexit. Many experts claim that Europe is better equipped against the danger of infection now. But instead of listening to opinions we should stick to the figures. If Greece went bankrupt, 600 billion euros would be at stake. Compared to that the Lehmann Brothers bankruptcy was trivial. Perhaps it would be better if everyone thought about the devastating social impact and the damage a Grexit would inflict on the European construction. The outcome of the negotiations is uncertain, but one thing is for sure: Greek's bankruptcy won't be good for the recovery of the European economy."

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