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Strategy Economics chief executive Matt Lynn explains why Spain could be first to leave the eurozone.
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I'd lady really talking a lot about Greece's the -- -- from the eurozone but -- something you may -- of again.
-- sprained my next guest says Spain.
Could be the first to leave not Greece explaining now is Matt -- strategy economists that -- -- economics chief executive.
Matt thank you very much why -- is it basically because they could survive more easily outside of the Euro.
Yeah I think that's an and that's one of the that's one of the big reasons I'm in the markets as you know an evening document -- on on -- -- that an -- wells.
And I'm excited about -- idea that Greece could be on the way ahead of the year and we know of the reasons.
After that but you know Spain as we as being in the center of the storm the last couple of a couple of weeks -- on the huge amount of pressure on the same kind of problems of in the within the single currency.
As Greece does but it may well be easy -- agree so it's -- to come -- that it disagrees.
-- Greece doesn't have much of an economy.
By itself it doesn't explored by much it doesn't make you very much.
As I live at the country is feels nervous about how about what his future might be outside.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Exports about stuff makes -- stuff gets loving what investment.
I think in Spain they feel much less nervous about how I have ever get on outside the US special moment kind of practical matter -- this currency working colossal amount.
Well Matt let me put it this way is the Euro failed expect -- experiments and will -- break up.
So hot weather that -- big question -- Continent quickly gathered near the fab experiment and -- did a lot of lack of ideological certainty coming out of Brussels and frag five and parents.
On this issue that they have to remember this thing was set up about 1012 years ago and as an experiment -- ever tried -- single currency after seventeen very different economies.
Within that within a single continent -- I think -- you look at the evidence.
-- you -- anything -- -- that -- if -- we've had two years and -- ongoing crisis was in deep recessions.
In many different countries we're seeing but as several countries guy bankruptcy borrowing costs.
Office Galloway saying you know all the kind of volatility in the markets that they would be to -- right that's a month after month.
So Matt a lot of talk now about fiscal union banking union.
Is that something that perhaps could save these single currency.
Although I'm sure there are a lot of countries would not like to be told what to do from Brussels.
While that's still haven't I think I think you know whether they by the year is if unfortunately you that was gonna get a get a bit bored of it -- -- -- already -- -- -- already it's getting it's getting it's getting go on for awhile because as -- although the currency is unworkable.
That's quite a law that big -- -- wealthy countries can -- to keep keep alive even the most dysfunctional currency so I think they'll carry on.
You know kind of CT morphine into this thing have a -- long time that a fiscal union.
-- bad lads at bank -- union.
Will be -- that take our auto.
But I'm on the right then not really an upright intellectually when I don't know whether women doing set from that that it that it that it hasn't really why -- I think that's one reason these -- by just to get to back to where we started this conversation.
In Spain much more than Greece and some other countries I mean that's quite -- -- quite an open debate within the Spanish papers -- Spanish TV.
A lot of economists and pundits come and say.
You know actually this is -- currency problem.
And that's what we're definitely -- whereas Greece isn't me it's still kind of taboo subject even you know the -- that when.
Some it's about it's against austerity but wants to stay on the air in the in -- -- of removing them have a better off outside and that's an important step along the right.
And obviously a much bigger economy than Greece is all right we're at a time Matt when thank you so much for joining us.
The CEO strategy he --
