Shortages of fuel creating long queues at gas stations. Hospitals running out of medicine. Unemployment climbing to 40% or more. And aid agencies flying in emergency supplies of food. To listen to some of the commentary, you might imagine that Greece in the aftermath of an exit from the euro would be something like Berlin in 1945, a shattered country with a collapsed economy, and a population on the brink of starvation. Ignore it. A so-called Grecovery, if Greece were to reintroduce the drachma, would take everyone by surprise. It would be both robust and durable. Why? Because Greece has already cut its wages to ... (full story)