Unless you have had your head in the sand over the past week, thanks to the media, Greece is all we have been hearing about lately, from morning to night.
This has been in the making over the past 5 years and yet no real solution seems to be in sight, which is quite sad for the country as well as for the dream of a unified Europe.
Back in 2010, the problematic PIIGS (Portugal, Ireland, Italy, Greece and Spain) were all the talk, now it’s mostly centred on just Greece as the others have taken on the austerity pill by cutting back government spending, initiating economic growth policies and hence come away much stronger for it.
On the overall balance, Europe itself is also much stronger and a slow Eurozone recovery remains on track.
The question on most people’s minds is whether the default and exit of Greece from the Eurozone is likely to cause a major systemic risk resulting in another GFC style European crisis.
To read the rest of the story, click here to my #1 ranked editorial for the day at TraderPlanet.com
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