June 30th 2015 could be an important turning point for Greece: an exit or a repayment of the debt as it reaches its debt repayment deadline. A crisis in Greece will affect markets all across the globe. In fact, they are already reflected in the stock exchanges across the world. The country is heading for a default and market reactions are the first sign that nothing is going good with Greece. Clearly, market perceptions are that Greece will be unable to meet 1.6 billion euro of loan repayment to the International Monetary Fund. The widespread panic happened last week due to the failing talks between Greece and its creditors.
The Warning Signs Of Greek Economy
Greece Exit (GREXIT) – A Boon Or A Bane?
By the end of 2014, Greece owed “troika”(European Central Bank, the International Monetary Fund and the European Commission) €253.3bn. In 2014, many talks were doing the rounds of a possible exit of Greece from the Eurozone. With snap elections in January 2015, Greece is again put on a spot. There is a lot of speculation as to how things could change for Greece in case radical left-wing party Syriza wins. Sunday Elections for Greece could either make or break the future of Greece depending how the elected government handles rising tensions between the troubled nation and its creditors, Eurozone government and IMF.