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Greece Leaving The Eurozone? The Boy Just Won't Stop Crying Wolf...

With the latest IMF deadline having approached, Greece has made a €450 million loan repayment after speculation the country might be unable to keep up with its debt repayments, triggering yet another round of debates as to whether Greece will in fact stay part of the eurozone. Interestingly, the euro did not move much in light of the news on the morning of April 9, with theeuro even depreciating somewhat against the US dollar:

While markets were initially (and still are to an extent) nervous at the prospect of Greece leaving the eurozone, popular opinion has gradually become more divided. On the one hand, there are those who see a Greek exit as still being a big detriment to economic progress in Europe. On the other hand, some believe a Greek exit would not be that bad, and if an exit is going to happen then let's just get on with it. For instance, Warren Buffett recently remarked that a Greek exit may not be that bad for the euro, as it would reinforce the rules regarding fiscal deficits and increase discipline among the remaining members to stick more rigidly to the prescribed guidelines. In Buffett's words, "The Germans are not going to fund the Greeks forever." Read more