Greece: Why We Should Care

The future of Greece continues to dominate global markets as the country nudges ever closer to a debt default.

Indeed, the Greek central bank warned on Wednesday that Greece would be on a “painful course” towards default and an exit from the euro zone if the government and international creditors failed to reach an aid-for-reforms deal.

But just how important is Greece to the world economy—and would it matter if it defaulted?  Greece’s economy has shrunk by 25 percent since 2009 and is not a big contributor to global growth. It makes up roughly 2 percent of the euro zone economy.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.