As he characteristically writes, "the rest of the world, which was once so desperate for Athens, will consider the country as the 'Greek tiger'".
The stock market, which had fallen by 90% in the period from 2007 to the first months of 2013, will make a significant leap. Government lending rates will be much lower than in Italy or Spain. Greece will give the opportunity to China and India for gold investments.
Having severed ties with Europe, Greece will find new sources of financial support in the deep pockets of the Russians and Chinese.
"Athens' decision to leave the eurozone - and the EU - was made with a heavy heart," King said.
The Greeks wanted to be part of Europe, but the effects of economic devastation were becoming more and more apparent. At first, the introduction of the "new drachma" seemed like a disaster.
The Greeks had withdrawn all their money from the Greek banking system in an effort to prevent their deposits from depreciating, as the new currency immediately lost half its value against the euro.
The Greek economy shrank and the banking crisis worsened. However, with the introduction of new capital, it is gradually becoming one of the fastest growing economies in the world.
But within a few months, the financial collapse had stopped. Inflation was rampant, while the rapid rise in import prices brought great demands for wage increases.
But that was only the beginning. Following the collapse of the exchange rate, and the final debt swap agreement, Greece is quickly establishing itself as an extremely attractive destination for foreign investors, especially in the wake of labor reforms.
As investment comes in, the demands of the opposition and the unions are collapsing. No one can ignore the sudden and welcome reduction in unemployment.
Following this success in Greece, hell erupts in the financial markets of the eurozone, while Germany demands even more austerity.
The Germans, meanwhile, are beginning to wonder what went so badly. They thought that austerity would cleanse them of all suffering.
However, with the prospect of the euro disintegrating, the danger for Germany is obvious.
Angela Merkel herself, the great lady of European politics, recognized the danger. Forcing Greece to leave the euro was a mistake. The cost of supporting Greece could be offset by the benefits.
King concludes that this fantastic scenario can happen.
And the idea that Greece can leave the euro and the rest continue to be "happy" is wrong. Leaving may ultimately be an answer to Greece's difficulties, but it raises serious questions for everyone else.
Source: Newsbeast.gr