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Greece close to Grexit
Greece close to Grexit

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Greece close to Grexit

The Government in Greece is quickly running out of time and money, with no obvious deal occurring with any of their Eurozone partners to secure the final tranche of its bailout, there is a real change the loans could default. This is pushing the Greek Government to what people are calling Grexit; this is because they are leaning towards a single currency.

The Greek Government inside of Athens has called for any public sectors to give up any cash reserves that it may have, Thessaloniki’s Mayir has already handed over millions, but other towns and cities aren’t paying up to help. Without the final 7.2 billion Euros, Greece will almost certainly default on any debts that it owes. Greece’s last injection of cash was from its international creditors in August so the final 7.2 billion instalments are now seen as vital.

10’s of billions have already been withdrawn from business and private accounts and its only a short amount of time before the deposits start to leave.