As if Dimon’s fall from grace wasn’t bad enough, markets are also battling with Grexit demons. ‘Grexit’ is a new word that has entered the financial lexicon along with ‘financial repression’ and ‘the great recession’.
It refers to the possibility of Greece exiting the euro. Greece is on a slippery slope to hell, otherwise known as abandoning a currency peg: think Argentina in 2002. European politicians have waffled and dithered but failed to deliver a workable solution.
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