Greece now stands closer to an exit from the single currency than ever before. Thanks to domestic politics in all the other Eurozone countries, it seems almost inevitable that it would come to a crisis. No politician was willing to capitulate as long as there was hope that they might win at the next negotiation. But as the eleventh hour now approaches when Greece may have to default, the path becomes far more confusing. There is a veritable maze of possible outcomes. Crises may arise and be resolved, only to turn into a crisis again.
About the authors
Economist Insights is written by Joshua McCallum and Gianluca Moretti. Joshua has been working at Global Asset Management with the title of Senior Fixed Income Economist since 2005. Prior to this, he worked at the UK Treasury as a macroeconomist. Gianluca joined Global Asset Management in 2010. Prior to this he worked at the Italian central bank.
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