The Greek Drama

Weekly Market Commentary

There is no question that Greece is tangled economically and politically in Europe. This was by design — the adoption of the euro was intended to be permanent, as was membership in the European Union (EU).* These entanglements are being tested by the ongoing crisis regarding Greece, its debt, and its ability to continue to use the euro as its currency. Though much has been — and will continue to be — written about this situation, we can reduce the problem to three basic issues.

  • Will Greece default on its debt?
  • ƒƒShould Greece default, is the financial system at risk?
  • ƒƒCan Greece stay in the Eurozone? Does it matter?

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