Are we heading for Grexit?

There is room for two opinions on whether a managed and agreed writing off of some of Greece's debts, and a managed and agreed "amicable divorce" of Greece from the Euro might be a good thing for both sides.

There are no two opinions that either of those happening in an unplanned way because Greece is forced out would be much more painful for everyone involved.

Personally I think a managed and agreed "Grexit" from the Euro combined with an agreed reschedule and write-off of some of the country's debts is probably the least worst option which is now available.

That could still happen. But unless something breaks the deadlock between Alexis Tsipras' government and Greece's creditors, it is looking increasingly more likely that sometime this summer Greece will be forced into default and out of the Eurozone.

If an unplanned forced exit is allowed to happen it will not mean the end of the Euro, nor will it bring down the rest of the continent's banking systems. But it will not be brilliant news for the economies of the rest of Europe and it is likely to be seriously disruptive for Greece.

The Daily Mash has a take on this which mocks the typical British propensity to view things happening in most of the world through the prism of how they affect us, at

http://www.thedailymash.co.uk/news/international/grexit-could-cause-depression-war-famine-and-disruption-to-british-holidays-2015061999425

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