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Could “Grexit” lead to healthier air travel market?

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IATA looks into possible exit of Greece from Eurozone
What would an exit of virtually bankrupt Greece from the Eurozone mean for the EU’s air passenger market? The International Air Transport Association has done some research on the issue and summarises its findings in a new report.
The past few years have been mixed ones for the Eurozone’s air passenger market, IATA says, and a Grexit-type event would be expected to cause considerable disruption in the near term.
But the association dares to suggest a Grexit-type event could help to facilitate a more balanced – and ultimately healthier – European economy in the long run and a basis for faster growth for air travel too.
“In fact, as our scenario analysis illustrates, the lasting impact of a well-managed and relatively contained Grexit-type event may not be appreciably worse than the status quo scenario,” the IATA report concludes.
“All told, even if some compromise is reached between Greece and its creditors in the coming weeks and months, the inherent economic tensions within the Eurozone will persist. In the absence of lasting policies to alleviate debt burdens and to tackle competitiveness mismatches within the bloc, a Grexit-type event will remain a possibility for the foreseeable future.”
TTG Nordic
[pictured: Santorini; photo courtesy Visit Greece]

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