September 6, 2011
Greece or Portugal would lose up to 50% of their national income if they quit the euro, according to research by analysts at Swiss investment bank UBS.
A eurozone country with a more robust economy, such as France or the Netherlands, would see 20% to 25% of national income disappear if they went back to operating their own currency.
For Greece the loss would be $165bn (£100bn) from its $330bn annual gross domestic product, while France would suffer a loss of $660bn from its $2.65 trillion annual GDP.
The stark warning to eurozone members that a breakup of the euro currency club will cost them dear follows several speeches by policymakers and economists that the status quo is untenable.
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