Economies would be boosted by leaving the Eurozone from hell

July 7, 2012 01:30 Leave a Comment

EURO EXIT ‘WOULD BOOST ECONOMY’

Breaking up the eurozone would unleash economic growth and prosperity across Europe, a study said

Friday July 6,2012
By Macer Hall

http://www.express.co.uk/posts/view/331040/Euro-exit-would-boost-economy-

BREAKING up the eurozone would unleash economic growth and prosperity across Europe, a prize-winning study said yesterday.

Researchers said allowing Greece or another member state to quit the European Union’s single currency would have a “distinctly positive” effect. And a smooth departure could be organised secretly within weeks and achieved over a weekend.

The report, by a team at analysts Capital Economics, won the £250,000 Wolfson Economics Prize for the best essay detailing how a country could leave the euro.

The firm’s founder Roger Bootle said: “Our analysis revealed tricky issues which any exiting country would need to face but all of these difficulties can be overcome.”

Under the plan, an exiting country would establish a new currency which would have exact parity with the euro on the day of departure.

Tory peer Lord Wolfson, who offered the prize, said: “I hope the work of our worthy winner, Roger Bootle, will be of help to policy makers.”

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