- published: 06 Jun 2015
- views: 109610
Grexit is a slang term introduced in 2012 in world business trading. It is a portmanteau combining the words Greece and exit, referring to the possibility that Greece could have to leave the Eurozone, and thus would have to readopt their old currency, the drachma. The term was introduced by Citigroup's Chief Analysists Willem H. Buiter and Ebrahim Rahbari on the 6 February 2012.
In mid May 2012 the financial crisis in Greece and the impossibility of forming a new government after elections led to strong speculation that Greece would have to leave the Eurozone shortly. This phenomenon had already become known as "Grexit" and started to govern international market behaviour. Economists have expressed concern that the phenomenon may well become a typical example of what is called a self-fulfilling prophecy.
The implementation of Grexit would have to occur "within days or even hours of the decision being made" due to the high volatility that would result.
The prospect of Greece leaving the euro and dealing with a devalued drachma has already prompted many people to start withdrawing their euros out of the country’s banks. In the nine months through March 2012 deposits in Greek banks had already fallen 13% to €160 billion.
Timothy Maxwell "Max" Keiser (born January 23, 1960) is an American broadcaster and film-maker. He hosts Keiser Report, a financial program broadcast on RT (formerly Russia Today). Keiser also anchors On the Edge, a program of news and analysis hosted by Iran's Press TV. He hosted the New Year's Eve special, The Keiser's Business Guide to 2010 for BBC Radio 5 Live. Keiser presented a season of The Oracle with Max Keiser on BBC World News. Previously he produced and appeared regularly in the TV series People & Power on the Al-Jazeera English network. He also presents a weekly show about finance and markets on London's Resonance FM, as well as writing for The Huffington Post.
In addition to his broadcasting work Keiser is known for his invention of "Virtual Specialist Technology", a software system used by the Hollywood Stock Exchange.
Keiser has been involved with markets and finance for 25 years. He started his career as a stock broker on Wall Street after graduating from New York University.
lately I´ve been thinking a lot about my life
maybe I should stop drinking, get a job and find a wife
the world is too big and time is too short,
an overdose while I´m in love with you
lately I´ve been thinking too much about my life
maybe I should start drinking, quit my job and leave my
wife
the world ...
no overdose while I´m in love with you
come over, I wanna hold her