With all the drama in the euro zone, there's been no shortage of Greece-related questions for Wall Street's luminaries.
Below
is a roundup of what big investors and banking luminaries have
been saying. The takeaway: Wall Street seems pretty sanguine when it
comes to Greece—perhaps surprisingly so.
Here's Warren Buffett, billionaire investor, speaking in March:
If
it turns out the Greeks leave, that may not be a bad thing for the
euro. ... If everybody learns that the rules mean something and if they
come to general agreement about fiscal policy among members, or
something of the sort—that they mean business—that could be a good
thing. —Interview with CNBC
Fink, CEO of BlackRock, speaks during the Credit Suisse Global Megatrends Conference 2015 in Singapore.
Sam Kang Li/Bloomberg
Larry Fink, chief executive of BlackRock, spoke with a Dutch newspaper last month and said:
A Greek departure from the euro is far less disastrous than making concessions that can also be claimed in other countries. —Interview with Het Financieele Dagblad
JPMorgan Chase CEO Dimon.
Tim Boyle/Bloomberg
Jamie Dimon, chief executive of JPMorgan Chase, wrote in his letter to shareholders in April that:
We
must be prepared for a potential exit. ... We continually stress test
our company for possible repercussions resulting from such an event. ...
After the initial turmoil, it is possible that a Greek exit would
prompt greater structural reform efforts by countries that remain. —Letter to shareholders
Weber, president of the Deutsche Bundesbank.
Hannelore Foerster/Bloomberg
Axel Weber, chairman of the Swiss bank UBS, said in April that:
I've
just come from a meeting of the International Monetary Fund. There, the
consensus is increasingly that a Greek default would be systemically
controllable. —Interview with Neue Zuercher Zeitung
Munger, vice chairman of Berkshire Hathaway.
Daniel Acker/Bloomberg
Charles Munger, vice chairman at Buffett’s Berkshire Hathaway, said in May that:
[The]
euro had a noble motivation and has done some good but has created
strains by connecting countries that shouldn't be. You shouldn't create a
partnership with your drunken, shiftless brother in law. —Berkshire Hathaway's annual shareholder meeting
Druckenmiller,
chairman and chief investment officer of Duquesne Family Office, speaks
during a television interview at the Robin Hood Investors Conference in
New York, on Nov. 22, 2013.
Peter Foley/Bloomberg
Billionaire investor Stanley Druckenmiller told Bloomberg TV in April that:
The
banks don't own Greek debt any more; Draghi has QE at his disposal. My
guess is there won't be contagion. But even if there is, he can contain
it—and as soon as market participants see that, you won't get contagion. —Bloomberg TV
According
to a Bank of America Merrill Lynch survey released on Tuesday, many
investors are not anticipating a negative outcome in the euro zone.
Some
43 percent of respondents said they expect a "positive" resolution.
About 42 percent said Greece will default but is unlikely to exit the
monetary unit and only 15 percent said they expected a
so-called 'Grexit.'
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