Saturday, 6 June 2015

Will this month see Greek Exit

I have been prediction the Grexit or Greek Exit for over eighteen months and as each payment date draws ever closer they manage to pay up. This time will be slightly different but I expect to see them hang on to the end of the month, that in itself is only making things worse. With the euro hemorrhaging from Greek Banks the country runs the risk of running out of money and then after refusing to pay until the end of the month will become we cant pay this month and them  we cant pay FULL STOP. I saw the argument that it could stay in the euro with a different exchange rate but I cant see that being of much help other than delaying the inevitable. Talks with Russia are I imagine a way of goading European leaders rather than being a way to raise cash. Russia gains nothing from Greece other than to poke a stick in the eye of European leaders and whilst this may be tempting Russia is hurting under its current sanctions and would like to get back on a more even relationship with the West. Today is the sixth of June In am not a gambling man but my money is on the EU backing down and helping its troublesome partner before the end of the month because by then the Greek Coffers will be empty.  

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