... call this process “weird”? First because of the text that is to be signed by the European parliaments. This piece of paper is not the end of the story between Greece and its creditors. On the contrary, it is a new start for both Greece and Germany as well as Europe more generally. The second reason is due to the process of negotiations itself. However, since the E.U. is a “family”, the use of threats and blackmail was too obvious. Nonetheless, these main questions should not ...
... and German banks that would lose billions of euros in such a case. While IMF is an institution that supports the implementation of liberal reforms -such as those demanded by other creditors of Greece- at the same time exercises discreet pressure in Germany towards a debt restructuring. This negotiating tug eventually causes delays in finding a final solution, bringing closer the Grexit. To calculate the precise cost of a Grexit is impossible, but below we underline the main impacts of such a development.
Grexit: Economic Implications for Greece
Grexit will cause a short-term financial panic in the country. Banks and ATM’s ...
