Exit The Room Vienna

A Greek withdrawal from the eurozone is a hypothetical scenario in which Greece withdraws from the Eurozone, likely to allow for the country to deal with its government-debt crisis. As of October 2018, no such withdrawal has occurred, nor is one in prospect. This conjecture has been referred to as Grexit, a portmanteau combining the English words Greek and exit, and which has been expressed in Greek as Ελλεξοδος, . The term Graccident was coined for the case that Greece exited the EU and the euro without intention. These terms first came into use in 2012 and have been revitalised at each of the bailouts made available to Greece since then. Proponents of the proposal argue that leaving the euro and reintroducing the drachma would dramatically boost exports and tourism and while discouraging expensive imports and thereby give the Greek economy the possibility to recover and stand on its own feet. Opponents argue that the proposal would impose excessive hardship on the Greek people, as the short-term effects would be a significant consumption and wealth reduction for the Greek population. This may cause civil unrest in Greece and harm the reputation of the eurozone. Additionally, it could cause Greece to align more with non-EU states.
Continue reading...
From Wikipedia, the free encyclopedia.