Greek Withdrawal from the Eurozone

As the negotiations on the extension of the cash reform agreement between Greece and the euro area collapsed, the Greek relief plan ended on June 30 and the Alexis Tsipras government failed to repay the debt to the International Monetary Fund. The European Central Bank (ECB) has indicated that it will not provide emergency funds to banks, and the risk of Greece withdrawing from a single currency is also rising. How is it being implemented in the world? As of the end of 2013, Greek public bonds are estimated to account for 171.8% of GDP (ANSA, 2014), which exacerbated the increasing Greek debt crisis since the 2008 economic crisis .

As Papaconstantinou (Greek Finance Minister) Haha said, the Greek crisis certainly gave consideration to several EU and euro area countries, the crisis challenged the euro area limit. It is undeniable that the presence of a common currency brings participants closer to the common currency area standard, even Germany, France, and the United Kingdom refuse to join the euro area, but its role in the EU is non Europe It is larger and unite than the countries. I think this is the reason to unite against a common enemy.

In 1995, I started writing a novel called "the end of Europe". It should be a satire about a secret British plan to leave the European Union in the near future (and the euro area - one of my roles was George Soros style financier who changed pounds into a single currency is). The climax of the scene as the British military blocked themselves from the mainland was the closure of the Channel Tunnel. I would like to say that it has a wonderful foresight. But when I was in England at the beginning of the 1990 's in Brussels' correspondent (Boris Johnson "Telecommunications"), my pressure on British Europe skepticism was obvious. Writing in the UK. The exit seems to be not enough, or at least extreme, to create a good premise for humorous novels.

Concern about the possibility of the collapse of the euro area last year was replaced by the possibility that the UK would withdraw from the EU. The broad consumer attention brought about by the long-term decline in crude oil prices was offset by the withdrawal of capital, which is anticipated by the expected deficit of some oil producing countries. Recent events in Spain and ongoing large-scale migration to Europe have been highlighted by many respondents and respondents. Despite the uncertainty of such event risks, the important reason for the overall positive view of the European market is that in the context of low interest rates, the difference between real estate yields and bond yields depends on many pension funds, sovereign wealth For funds and private equity investors. It is still attractive.