Why Greece Has To Leave The Eurozone Or Default

rumours are flying that Greece has threatened to leave the eurozone. There are a lot of denials naturally, but we suspect something’s up. It just makes sense for two simple reasons.

The first is that the market has totally lost confidence in Greece.

2-year yields are above 25%.

chart

That’s unsustainable.

But then beyond that, Greece’s austerity attempts have been a total flop. They have no way out at this point.

So it’s only a matter of time. No point in waiting.

Meanwhile, this is what the drachma looks like.

drachmas greece

Photo: Wikipedia

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