Greek Trinity
Some experts evaluate the circumstances over the Greek economic developments in three possible scenarios: euro-exit, euro-stay and an intermediate scenario. The experts believe that Greek policy missteps can lead the country to exit from the currency union. This scenario is still considered to be possible. On the other hand market participants show that the risk has come down following the latest Eurogroup meeting. Nevertheless, there is no credible resolution yet. The "trilema" described above seems hard to solve. There is an actual reason for this kind of analysis - called "impossible trinity". It refers to Greek government demand: 1.stay in the euro area, 2.stay in power, 3. undo the bailout. One of these three options will have to yield, Bloomberg.com reports.
Other materials on this subject
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- Greece Can be Competitive Once Makes Reforms: Schaeuble Greece can have a competitive economy once it makes reforms agreed with its euro zone creditors, German Finance Minister Wolfgang Schaeuble said on Monday.
- Greek Unemployment Rises to 23.4 Percent in August, Eurozone Highest Greece's unemployment rate has come down from record highs but remains more than double the euro zone's average of 10 percent in August.
- Eurogroup to Disburse 10.3 bln Euros to Greece The Eurogroup also recalled the medium-term primary surplus target for Greece at 3.5% of GDP as of 2018 and underlined the "importance of a fiscal trajectory consistent with the fiscal commitments under...
- 48-Hour Strike Began in Greece Public transport workers joined the strike. Today and on Saturday in the Greek capital metros, trolley buses and trams will not work.
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