17838
Grexit  Seems Real
World Economy

Grexit Seems Real

The potential for a Greek exit from the eurozone has probably never looked this real. The government is running out of cash and doesn’t seem to have enough for its next International Monetary Fund payment, Business Insider reported. Missing a debt payment could push the European Central Bank to withdraw support from Greece’s banking system and eventually cause a “Grexit” — a disorderly Greek exit from the eurozone. This would have major implications not just for the well-covered economic issues but for European security too: Greece has historically had close ties with Russia. And it looks like German Chancellor Angela Merkel is getting concerned about those security risks. On May 19, Bloomberg suggested that Merkel was preparing a defense of continued German support based on geopolitical lines. Now that’s becoming a point of interest in the German press too. Reports in Die Welt suggest that Merkel and Finance Minister Wolfgang Schaeuble are split on the issue of Grexit — he seems to be unworried about the possibility.
 

 

Short URL : http://goo.gl/JnmY2t

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Trending

Googleplus