BarroMetrics View: Greece
The possibility of a Greek exit from the Euro Zone increased to over 50% when, yesterday, a proposal by the Greek Government was rejected by Germany. So far all quiet on the market front, including the EURUSD.
Today there is a ‘final’ meeting scheduled. Unless there is some agreement, Greece is expected to run out of funds and accelerating bank runs will occur.
I must admit to be surprised at the lack of volatility exhibited by the markets. Have we really got to the point that all that matters is QE? It will be interesting to see what happens today if no agreement is reached.