UBS: Euro exits could lead to civil war
The Swiss bank UBS has issued a report that says if a country leaves the Euro it could be beset by massive economic damage, a collapse of international trade and even potentially civil war. The report states that if a country were to exit the Euro-zone, it would most likely default on its sovereign debt as that debt would be valued in Euros and it would be unable to tax its populace in Euros to make up the difference. Similarly, the report states that a country in such a situation could either become more authoritarian for the sake of restoring order or it could dissolve into a state of civil war or anarchy.