The rumblings have long since begun. Greece is in no mood for austerity. It does not seem likely that they will stay in the Euro. They don’t want to stop spending, they don’t want to pay the debt and the want more loans. Perhaps they will try the Gyro. Some actually expect them to exit the Euro over the weekend.
Didn’t the Greek government initially misrepresent the economic information in order to admitted to the Euro zone? Why should the Germans (and the other Northern countries) now pay for that? Some have even said their economy is based on sloth and ouzo. That does not sound like a recipe for success.
While initially the Greek exit (Grexit) will cause some instability in the markets, in will likely strengthen the Euro in the long run. Many predict the Mediterranean countries exiting the Euro, leaving a smaller and stronger Euro zone.
Let us know your thoughts.