Wilbur Ross Says Drachma Would Trade at 25-50 Cents to the Euro
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The Greek drachma would trade at 25 to 50 cents to the euro if the nation exits the European currency, U.S. billionaire Wilbur Ross said.
“It would be a pretty bad haircut for the people,” Ross said Tuesday in an interview on CNBC. “Cutting the value of the currency would automatically cut the value of the pensions and everything else.”