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greekwithdrawalfromtheeurozone

greek withdrawal from the eurozone

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Definitions of greek withdrawal from the eurozone in various dictionaries:

GREEK WITHDRAWAL FROM THE EUROZONE - A Greek withdrawal from the eurozone is a hypothetical scenario in which Greece withdraws from the Eurozone, likely to allow for the country to deal ...

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Greek withdrawal from the eurozone description
A Greek withdrawal from the eurozone is a hypothetical scenario in which Greece withdraws from the Eurozone, likely to allow for the country to deal with its government-debt crisis. As of October 2018, no such withdrawal has occurred, nor is one in prospect. This conjecture has been referred to as "Grexit", a portmanteau combining the English words "Greek" and "exit", and which has been expressed in Greek as ελλέξοδος, (from Ελλάς + έξοδος). The term "Graccident" (accidental Grexit) was coined for the case that Greece exited the EU and the euro without intention. These terms first came into use in 2012 and have been revitalised at each of the bailouts made available to Greece since then. * Proponents of the proposal argue that leaving the euro and reintroducing the drachma would dramatically boost exports and tourism and while discouraging expensive imports and thereby give the Greek economy the possibility to recover and stand on its own feet. * Opponents argue that the proposal would impose excessive hardship on the Greek people, as the short-term effects would be a significant consumption and wealth reduction for the Greek population. This may cause civil unrest in Greece and harm the reputation of the eurozone. Additionally, it could cause Greece to align more with non-EU states.

Greek withdrawal from the eurozone description

A Greek withdrawal from the eurozone is a hypothetical scenario in which Greece withdraws from the Eurozone, likely to allow for the country to deal with its government-debt crisis. As of October 2018, no such withdrawal has occurred, nor is one in prospect. This conjecture has been referred to as "Grexit", a portmanteau combining the English words "Greek" and "exit", and which has been expressed in Greek as ελλέξοδος, (from Ελλάς + έξοδος). The term "Graccident" (accidental Grexit) was coined for the case that Greece exited the EU and the euro without intention. These terms first came into use in 2012 and have been revitalised at each of the bailouts made available to Greece since then.
* Proponents of the proposal argue that leaving the euro and reintroducing the drachma would dramatically boost exports and tourism and while discouraging expensive imports and thereby give the Greek economy the possibility to recover and stand on its own feet.
* Opponents argue that the proposal would impose excessive hardship on the Greek people, as the short-term effects would be a significant consumption and wealth reduction for the Greek population. This may cause civil unrest in Greece and harm the reputation of the eurozone. Additionally, it could cause Greece to align more with non-EU states.

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