Greece Could Exit Euro if Bailout Agreement is not Signed

January 4, 2012 Share Print 0

The latest soundbites from Greece point to a threat of Eurozone exit if the Greek Bailout Agreement is not signed. Observers note that this is intended more for the locals to show a strong government reaction to outside forces, but also to enlist their help in tightening their belts with the austerity measures that have yet to be assimilated into Greek daily life.

“The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro,” spokesman Pantelis Kapsis told Skai TV.

New measures will have to be introduced and based on the previous reactions from the population, it is not expected this moves with anything other than very vocal opposition.

BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.