RE: Grexit18 Jun 2015 11:18
I agree the sooner Greece defaults the better as this uncertainty isn't helping, the reality is Greece can't afford its debt and it isn't prepared to make the savage cuts needed to keep ECB/Merkel happy.
Yes the Greek economy needs sorting out, its pension system is staggeringly generous, its tax collection is a joke, and its economy is awful; but if the Greeks don't want to sort these issues out (and since they democratically elected a party that stood for NOT resolving these issues). Reality is, they should NOT have been allowed into the Euro until they had sorted some of the fundamental issues out, Germany/France messed up in cheating the rules to allow them in anyway and now they're paying the price. Either Merkel takes it on the chin and eases up on the demands on Greece, or they need to properly be firm and tell them 'either you make these changes or leave Euro'....imho this brinkmanship is just causing market jitters.
Meanwhile GBO is clearly suffering even though Grexit/no-Grexit wouldn't really have any significant impact on the company; ironically Grexit might acually help it a bit as it would slightly reduce its staff costs.