IPFS News Link • Currencies
Spain Will Exit The Eurozone First—This Year
• http://gonzalolira.blogspotFrom this exodus, I analyzed what would happen to the euro vis-à-vis gold and the rest of the world’s currencies—namely, that the euro would suffer a staggered loss of value against commodities and other currencies: An initial drop-and-recovery when the smaller nation exited the eurozone, followed by a sustained drop when the big nation exited the monetary union.
The Scenario was written and published on the LiraSPG site in May 2011.
Since then, I have changed my mind: I no longer think that a small country will exit the eurozone first, followed by one of the bigger countries.