Roubini’s Greene Says Greece May Exit Euro in First Half

Greece may quit the euro zone as soon as 2013’s first half, said Megan Greene, director of European economics at Roubini Global Economics LLC.

Current austerity steps and likely retrenchment would create a “decade of depression,” so the country may decide to default on its debt and reissue the drachma, Greene said today at a conference in London. A Greek exit is “very likely” before 2013 ends, she said. The euro-area economy may shrink 0.4 percent in 2012 and 0.6 percent next year, according to Greene.