CNBC is not into truth telling – just an echo chamber for what the rich and corporate are selling.

Greece will be fine post Euro, albeit being in the Euro is worn as a badge for achievement by many in Greece. The Greeks work harder and smarter than the Germans (hours worked per year second only to the South Koreans).

The dozen years of exports via the low currency value for the Euro for Germany will end and Germany will be suddenly into stimulus – the same way they were the last time with their do not fire anyone and instead have everyone work half the normal hours and the state pays for the hours not worked. That policy saved them last time and they will go back to it – most likely without Merkel.

As David said “this will lead to the eventual end of the eurozone, and I also think this ultimately works out better for Greece and the other countries under the boot of German monetary policy in the long run” – something I totally agree with.