We asked traders if there will be a 'Grexit'
It seems as if the hot topic lately has been the "will they/won't they?" conundrum between Greece and the European Union.
This year has been dominated by news out of Greece: A new prime minister is elected running on an anti-austerity campaign, closely followed by the revelation that they are relying on the European Central Bank to once again bail them out of their financial crisis. If they want the ECB aid to continue, they must recalibrate austerity measures; measures that their prime minister rallied against. As a result, the question of their presence within the European Union seems to be at the front of many people's minds. If Greece's only option is to devalue its currency--as has been the norm in countries in their predicament--they need a currency to devalue.
The question we are concerned with, however, is the effect this kind of move might have on the markets. Greece exiting the EU--or the single currency Eurozone -- could set a dangerous precendent for other members of the organization, throwing their economies into turmoil. For all the care that went into creating the EU, no one ever created an exit plan. If Greece does choose to leave, they will be in unchartered territory that could ripple throughout the markets.
That is why, this week, we asked traders, "Will there be a "Grexit"? And how will it affect the European and global economies?"