euro without Greece is a stronger currency

previously mkt is worrying about Grexit disintegrating EU, which endangers the euro as a currency.

the consensus now is the effect will modest since central bankers and politicians have more instruments to contain the crisis. it will also serve as a lesson to Sprain/Italy/Portugal to practice fiscal austerity.

so while credit and currency market reacted negatively to the referendum, the currency market has recovered almost all losses.

just my 2c