Charles Dallara Quotes

Greece could default on its debts and even exit currency bloc if it cannot deliver reforms.

Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.

So it won't be a surprise when the Greek default actually happens and we expect it one way or the other to be relatively soon.

One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear.

I think there will be no government bankruptcy in Greece.

A Greek exit from the E.U. and the euro would mean the Greek economy would be difficult to sustain.

I think it's often discussed that leaving the Euro is an option for Greece. I think this is really not an option.

A very difficult year is ahead of us. We must continue our efforts with decisiveness, to stay in the euro, to make sure we do not waste the sacrifices and do not turn the crisis into an uncontrolled and disastrous bankruptcy.

For the next three years, we're going to see different economies work out different problems. For European economies, especially Greece, it would be through default.

Not all Greeks are ready to do whatever is necessary to stay in the euro.

The Greeks do not have the option of borrowing because nobody will lend to them.

Observers and even some officials raise questions about the future of Greece as part of the Eurozone, while the Eurozone itself struggles to deal with fundamental flaws at the heart of its architecture.

The very welfare state the Occupy Wall Street protesters so eagerly applaud is what has saddled Greece with colossal debt and left its economy on the brink of collapse, igniting violent protests across the nation.

The shadow of an exit of Greece from the euro zone takes on ever clearer shape, repeated apparently final attempts to reach a deal are starting to make the whole process look ridiculous. There is an ever greater number of people who feel as if the Greek government is giving them the run-around.

The tenor of the comments as we got closer and closer to August got dominated by 'Wouldja please get this over with' and not let us go into default.

It will not be possible to solve the current crisis with euro bonds.

From my point of view it's impossible to cut debt in a country with new debt from another country.

It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.

Even people on the liberal side are starting to worry about going off a fiscal cliff.

The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis.

We will do whatever we could do to keep Greece inside the euro and inside Europe.

Dealing with Greece's problems will be more difficult if Greece is not a member of the eurozone.

I described the euro as a burning building with no exits and so it has proved for some of the countries in it.

A beautiful deleveraging balances the three options. In other words, there is a certain amount of austerity, there is a certain amount of debt restructuring, and there is a certain amount of printing of money. When done in the right mix, it isn't dramatic.

Greece is a medium-sized country in Europe. Our debt accounts for only 2.5 percent of the total of all members of the euro zone.