Who Loses if Greece Leaves the Eruo?

     Dennis Garman on CNBC made a great point on this. It's' really a no-brainer for the Greece.

     "If I were the Greek prime minister I would have defaulted long ago and left because at least I then know I can get my currency back, I can devalue it, my textile industry becomes competitive, my tourism industry becomes competitive again, my shipping industry becomes competitive," the publisher of the Gartman Letter said on CNBC's"Squawk Box."

     "Negotiations between Greece and its European creditors have broken down, and the Mediterranean country faces billions of euros in debt payments at the end of the month."

    "If I were [Prime Minister Alexis] Tsipras I would have told them to take it and shove it and walked off long ago," Gartman said.

     http://www.cnbc.com/id/102769162

     So, the Greeks don't lose if they leave the Euro. As Gartman points out, most countries that leave the Euro are doing fine within 6 months thank you very much. A great example of this is Iceland. 

     http://diaryofarepublicanhater.blogspot.com/2015/06/for-ecb-iceland-is-sore-point.html

     There is definitely life after the Euro. 

     He also pointed out that Greece leaving the Euro would be good for the Euro. 

     "Given Greece's small population and the size of its economy, a Grexit would be "relatively inconsequential," Gartman said. He acknowledged the event would cause "great concern" over the fate of the euro, but said investors would soon come around to the idea that a euro without Greece is more valuable than a euro with it."

     Hard to argue that the Euro without Greece is more valuable than a Euro with Greece However, some see it differently. 

     "Not everyone is so sanguine. The Organization for Economic Cooperation and Development earlier this month said a Greek exit could derail the entire euro zone recovery."

      Garman then says something very interesting: the Germans are the one stopping Greece from leaving. The German people have been calling for a 'Grexit' for years but the German ipolicy makers don't want this. 

      "The only reason Greece has remained a part of the currency union this long is because Germany won't let it out, he said."

     "Germany needs to keep Greece in the euro to keep the euro otherwise cheaper than it would be because Germany is an exporting country," he said. A Grexit would also be detrimental to France and Poland, he added.

     "A weak currency makes a country's goods more affordable to foreign customers."

     "Confusion is swirling over German sentiment on a Grexit because the public wants it, but the country's leadership and "cognoscenti" need Greece to remain in the union to support Germany's economic expansion, Gartman said."

    "Bayer needs Greece in. Thyssenkrupp needs Greece in. Daimler needs Greece in," he said. "And that's the problem. That's the confusion that people are talking about."

     So basically, the Greeks are hurting themselves staying in while helping Germany''s export business. With all this you'd think the Germans would be a little nicer to Greece considering they're basically prospering from Greek misery.