With Eurozone and Greek finance ministers embroiled in a crisis summit and a ‘final’ showdown yesterday, will this on-going Greek drama ever get resolved? It is amazing that the situation has persisted for so long and I’ve lost count of how many times the markets sold off before a last-minute deal was struck and a sharp rebound ensued.
While many might see these last ditch efforts – despite Greece’s latest offer on Monday constituting “some progress” according to German Chancellor Angela Merkel – is this simply yet another opportunity for more political fudging in an eleventh hour deal? There is growing concern that we now need to start preparing for the worst. This is not that Greece will finally exit out of the Euro, but about more heightened concerns that the Eurozone project could itself fail.
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