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Monday, February 09, 2015

Grexit Looming

It should come as no surprise to anyone that Greece is likely to exit the Euro.

Prime Minister Alexis Tsiprasis is sticking to his commitment not to accept an extension of the bailout, but instead to seek a bridging loan until June. He also insists all election pledges will be adhered to and, for good measure, wants to pursue war reparations against Germany.

All in all he has lit the blue touch paper.

As such the final touches to plans prepared by banks, countries and other interested parties for Grexit are now being made. Once finalised Greece will be allowed to self implode and leave the Eurozone of its own free will; ie no one will be lamed for pushing it out.

No surprises there at all!

In the meantime, it is likely in the dying days of Greece's membership of the eurozone it will run out of cash and impose capital controls.

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