Doomsayers quite wrong on Grexit

In May, as the eurozone veered deeper into crisis, the Nobel Prize-winning economist Paul Krugman penned one of his gloomiest columns in the New York Times entitled “Apocalypse Fairly Soon”.

“Suddenly, it has become easy to see how the euro — that grand, flawed experiment in monetary union without political union — could come apart at the seams,” Krugman wrote.

“We’re not talking about a distant prospect, either. Things could fall apart with stunning speed, in a matter of months, not years.”