Conclusion In conclusion, I regret to say that the hangover from the housing bubble of this past decade is still very much with us, as revealed both in the inadequate capacity of mortgage servicers and the continued impact of foreclosed homes on the housing market.
Grexit would also risk the elimination of EU-budget related inflows to Greece (cohesion and structural funds, agricultural subsidies). Overall, Grexit would imply huge costs for the Greek people, firms and the Greek financial system. IMF and official debt would run in arrears, while foreign law bonds would force Greece into a lengthy litigation process in international courts.