Carmen M. Reinhart, Columnist

What Greece Can Expect

History suggests leaving the euro would bring deep and lasting trauma.

July 9, 2015 at 6:00 AM UTC

By Carmen M. Reinhart

Carmen M. Reinhart is vice president and chief economist of the World Bank Group.

Back to the future?
Photographer: Christopher Furlong/Getty Images

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Greece, barring some bold new initiative, is on course to exit the euro area. How badly might this hurt the economy? How quickly could it hope to recover?

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