A Greek departure from eurozone = Developed world action.
Here are some interesting thoughts from the ASB bank with regard to the eurozone crisis situation. Predicted market outcomes as participants become concerned over potential contagion:
* The USD is likely to strengthen further.
* European Central Bank to cut interest rates 50 basis points to 0.50%.
* Bank of England to undertake further Quantitative Easing.
* Federal Reserve to undertake a third round of Quantitative Easing.
* Reserve Bank of Australia cuts rates 100 basis points to 2.75%.
* Reserve Bank of New Zealand cuts rates by up to 50bp to 2%,
Also look at the graphs below especially the one showing the withdrawal of money from trading banks.