What is Grexit ?


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.

Grexit is a newly-coined term created by Citigroup's Ebrahim Rahbari and first published in an informational paper authored by him and Citi Chief Economist Willem Buiter. It combines "Greek" or "Greece" with the word "exit" and refers to the possibility of Greece leaving the Eurozone. The word has been picked up by media worldwide and it may well worm its way into the official lexicon.
And it certainly has Greek roots beyond the obvious "Gr" - the word "exit" itself comes from the Greek "exodos", meaning "going out".
Rahbari and Buiter believe that Greece leaving the Euro is highly possible, and that the probability has tipped over 50% for it to occur in the next 18 months from this writing in early February, 2012.
The concept of the "Grexit" is important to investors and others trying to predict the impact on the world economy, on Greece itself and the Greek financial crisis, and on financial interactions around the world.
 


Thursday, 09th Jul 2015, 10:16:11 AM

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