Greek default, euro exit could be imminent with political leaders deadlocked

tick tock tick tock …how much longer can the euro survive?

National Post | News

ATHENS — Greek political leaders stuck to entrenched positions before another round of coalition talks on Monday, dashing hopes of a last-minute compromise to avoid a new election that risks pushing the country closer to financial default.

European shares slid and Spanish and Italian bond yields rose as investors fretted the political deadlock meant Greece was on track to become the first country to abandon the euro.

Greece’s political landscape has been in disarray since an inconclusive election on May 6 left parliament divided between supporters and opponents of a 130 billion-euro ($168-billion) EU/IMF bailout, with neither side able to form a government.

With the country set to run out of money as early as next month and no government in place to negotiate the next aid tranche, investors are betting that a long-speculated Greek default and euro exit will happen sooner rather than later.

[np-related]

“There’s a real risk…

View original post 806 more words

Advertisements

One thought on “Greek default, euro exit could be imminent with political leaders deadlocked

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s