Assuming Greece quits or is kicked out of the Euro, what's likely to then happen to the value of the Euro?

I was under the assumption that most of Greece's debt is held by German based banks.

I believe French banks have more exposure to the Southern Tier in general. France's banks are bigger as a percentage of GDP than German banks are. What you said is true.....but one German based bank is holding the majority. That one bank is of course the ECB.

I'd expect the Euro to keep going down. Italy is back in recession and it doesn't look like Spain is ever coming out of recession.

UKIP!

The politicians should go. The Chancellor of Germany lost NRW (most populous "Land") support in this month's bye-election.
A technocrat in Greece, but I see DRACHMAS. Goodbye, grumpy old debenture holders.
Without the eurozone, the U.K. stands. And the Global Recession expands.
Meanwhile, there's JPM $2bn - FBI on that case. .

There is much anxiety & some heavy bank withdrawals in Athens - no panic, yet

Chancellor Merkel has Tuesday fired a poor politician, a member of her Cabinet - historic.

I heard that it was 5% of total deposits Monday and Tuesday.

honestly I think the germans should leave the Euro, the euro would be better off without them. (no I am not trolling, this is honestly what I feel is best for the euro)

Wow, I'd buy all of the new German currency I could afford if that where to happen. It would grow quite a bit compared to the US dollar, but the Euro without Germany would get into the grip of major inflation, which would devalue some of the problem debt. Interesting thought.

Well, just deposit "euro"'s into a German bank. If Germany withdrew, then currency in a German bank would become the new shiny German currency. I believe German leaves was the best answer for the Wolfson Prize.

if a currency is practically worthless, a debtor pays his creditors and the creditors Lose.

For instance: The American state of Rhode Island & Providence Plantations, 1789

Or Maryland and Pennsylvania in 1837.

http://en.wikipedia.org/wiki/Hugo_Stinnes
Hugo Stennis's net worth in 1913: 7.5 million US dollars
Hugo Stennis's net worth in 1923: 750 million US dollars
He became the 4th richest man on Earth and did not really do anything or add anything to society. He borrowed money to buy things and then borrowed more money to buy more things. Italy, Austria, Hungary and Poland each had at least one Hugo Stennis-like figure emerge out of the post war hyperinflation.

Nevermind, the 1837 credit events were defaults not devaluations.