Greece Leaves the Euro, Very Possibly Next Month
Paul Krugman, May 2012: 'Greek Euro Exit, Very Possibly Next Month,' Then Possibly the End of the Euro
In a blog post titled Eurodämmerung, the economist laid out the end game: Greece out by June, bank runs in Spain and Italy, and maybe the end of the euro, in 'months, not years.'
What was said
“Greek euro exit, very possibly next month.”
— Paul Krugman (economist and New York Times columnist) · said May 13, 2012 · due June 2012 ('next month')
Greece did not leave in June 2012, or after. The European Commission still lists it as a euro-area member since January 1, 2001.
The fine print
Posted at 1:11 p.m. on May 13, 2012: 'Some of us have been talking it over, and here’s what we think the end game looks like.' Step 4b was 'End of the euro.' The post closed: 'And we’re talking about months, not years, for this to play out.' 'Very possibly' is the hedge. His later one-night forecast is krugman-markets-never-2016.
Sources
As of Oct 9, 2026
since it didn't happen
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