All this has happened before. And all this will happen again. My ASI colleague Lars Christensen talks about Grexit.
Ever since I started my blog in 2011 Greece has been on the verge of banking crisis, sovereign default and euro exit. It now looks as if we might get all of that very soon and very quickly.
This is from CNBC today:
Talks fell apart between the Greek government and its creditors, and European officials said Athens’ bailout program will expire on Tuesday.
Euro zone finance ministers met to try and thrash out a reforms-for-rescue deal for Greece after the country’s prime minister threw a curveball of a referendum on the deal late Friday night. During Saturday’s meeting, the finance ministers rejected Greece’s request for a one-month bailout extension, meaning that Athens could soon face very serious economic issues.
“It’s not a question to see what might happen on Monday. In terms of a crisis (for Greece), the crisis has commenced,” Irish Finance Minister Michael Noonan said after the…
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