The Greek government is running out of money and time. They need to agree to a deal with their Eurozone partners this weekend to secure the final part of its bailout loan and avoid defaulting on its debts. But without a deal, default could push the country towards leaving the Euro - a prospect that has become known as "Grexit".
What do you think?
As always, I would love to hear your thoughts on the looming Grexit. Please take a moment to vote on the poll and leave a comment.
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
wELL, IT'S ALMOST ZERO HOUR AND GREECE HASN'T BUDGED! MY CONCLUSION IS THAT THEY HAVE AN ALTERNATE DEAL IN THEIR VEST POCKET, WITH RUSSIA! PUTIN HAS MANY BILLIONS OF US DOLLARS LEFT AND GETTING GREECE OUT OF THIS FIX WOULD BE POCKET CHANGE. wHY WOULD HE? GETTING ACCESS TO GREEK PORTS FOR A START, A VETO ON UKRAINE SANCTIONS IS ANOTHER, REVERSING THE PUSH EASTWARD BY EUROPEAN INPLUENCE IS THE THIRD.
David Stockman's article of a few weeks ago summed it most realistically I have found any where. Greece has been on a death spiral since 1985. Thirty years into it it is about to hit bottom. Who will loan them any more money when they can't pay back what they owe and are flat broke. Greece gain EU access under creative accounting to gain EU credit and cash and now they are in the Black Hole of Socialist debt with no foreseeable escape. No amount negotiations can change the reality. The time has come for the EU to pull the plug and see if the "Grease trap" can hold all the government fat!
Predominately a 30 hour work week for the working class- a larger portion of the population in retirement drawing government assistance makes it difficult for Greece to pay debts in the future- I see them exiting the Euro.
The press is making a big deal about Greece failing because it is the first member of the euro to do so. Is it really a big deal. What happened to the south american countries like Argentina that struggled years ago. There will be a bit of heart ache for a while and then everyone will move on.
The big Guns do not appear to like the party in power as they have still not yielded. They fear that Spain ,Portugal and Italy can come up next. Whatever happens Greece will be in the Eurozone.
You left out the option of:
4) Default and stay in the Eurozone