The realities of a Greek euro exit

THE chaos in Greece has resumed and a new election that nobody expects to resolve anything looms.

Exasperated EU officials have begun openly discussing the country’s exit from the euro. This is a grave mistake. Greece’s exit would be no less catastrophic than when the EU called it unthinkable — and not just for Greece.

“Divorce is never smooth,” Luc Coene, the governor of Belgium’s central bank and a member of the European Central Bank’s governing council, told the Financial Times on May 13. “I guess an amicable divorce — if that was ever needed — would be possible but I would still regret it.”