Grexit postponed?

It looks for the moment as though those who argued that Greece would not leave the Euro were right.

Mainly because Tsipras bottled it in what has been called the "U-turn of the century."

It's fairly clear that if he hadn't the Germans would have held firm and refused to pay up, making some form of exit or suspension from the Euro for Greece almost inevitable.

I would not totally rule out the possibility that it still might happen, although the odds look a lot lower than they did a few days ago.

I still think a negotiated and properly managed Grexit - though not a forced one - would have been better for both Greece and the Eurozone, but it would appear that neither side wants to listen to that argument. Let's hope it does not go horribly wrong.

I also remain extremely glad Britain is not in the Eurozone. Our economy is not aligned with the Eurozone, and for very good reasons is not likely to become so anytime in the next couple of decades. Staying out of it was one of the best decisions we ever made.