The entire financial system is going to be put at test in an no so distant future and since Greece has been on the front stage for such a long time I think it's time to address this issues and give you my own perspective on this matters and what would be the implications of an disruptive event like Grexit.
There are many times that nothing happens for a long period of time until all of a sudden everything happens at once and what is more important the markets are paying attention and we get extreme moves like we saw last week.
For traders who operates in the FX Market it's easy to understand that Greece debt problems was that they converted their debt from drachma to euro and then the currency rose from 80 cent to $1.60 against the US dollar. This effectively doubled their debt in real terms and now servicing that debt is almost impossible without a serious debt haircut.
  • Greece Referendum

Since I'm writing this article over the weekend I have no idea what the outcome of the referendum would be. So, you may be asking yourself what is this Greece Referendum all about, and in simple words is this: Greek people are being asked to vote on whether to accept/ or not current proposal fr…
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