greek default, page-55

When greece defaults is will be a boon for the country.
After a period of painfull readjustment things will turn around.

I.e. If you want to set up a factory in Europe where will you do it. In Switzerland or Germany where land and capital costs are expensive or Greece where it will be dirt cheap on the drachma. Labour costs will be much cheaper because it will be in the low value drachma compared to the expensive Euro.

Tourism will really take off in Greece because it will be a dirt cheap holiday as it once was and new hotels will get built to cope with the flood of tourists.

More local produce will get used because it will be much cheaper than imports.