Mr. Vasiliadis added: "Yes, there is an economic war taking place at this time and certain interests are served by it. But let’s not be carried away, let’s turn off our televisions, take care of our businesses and we will most certainly come out from this recession even stronger. What I want to stress is for all of us to focus on our business and prove that our country truly deserves to be perceived and treated better by other member states. It’s time for politicians and people to work together!”

In regard to the second scenario, the one where the entire EU crumbles like week-old bread, the economist had this to say:

“If for any reason the European Union is dissolved, not just Europe but the entire world will be in turmoil. It has often been said that Greece, which as a percentage in the world economy is infinitely small, would rock the world economy if it goes broke. You can imagine if an entire EU hits bottom.”

Mr. Vasiliadis emphasized that, in his opinion, the EU will not dissolve for the reason that, because of Greece, the European Monetary Fund has been introduced, which will constitute a safety valve for the European currency.  

Meanwhile, what will happen if the worst-case scenario becomes a reality?

According to a local accountant, right off the bat we will become 30-40 percent poorer than what we would have been after the austerity measures do their job.  For example, when the euro went into effect nearly 10 years ago the exchange rate was 340.75 drachmas per euro. Based on that rate, if you now have 5,000 euros in the bank, that would come to 1.703 million drachmas.

But, wait a minute!

With a simultaneous depreciation of the currency of 50 percent, which is an optimistic figure, your 1.703 million drachmas now becomes 850,000 -- half your initial money. Again, it’s an optimistic view since we don’t know how the drachma will be accepted by other countries.

In all probability, a period of galloping inflation will follow, while the value of our bank deposits would be erased with a stroke of the pen, and we might as well forget about super cars, HD televisions, fast PCs, cheap internet and any other imports. Fuel, unfortunately, belongs in this category. 

As an epilogue to this story, Mr. Vasiliadis offered these observations:

“We have reached this point due to our own bad management and no one else is to blame. But, our country has been given the chance to change direction. Some people should go to prison for stealing; others should pay back what they stole; certain fortunes can be confiscated to profit the state. I believe that now we are at the bottom of the crisis and that in one year, following a correct course and with political will, we will begin to see certain positive results. Moreover I foresee that Greece, coming out from the crisis, will become economically attractive.”