End-of-June stock market wreck or not?
On February 20, 2015, Greece and its creditors reached a fourth month extension giving both parties time to work out their differences. A long-term deal is by no means certain because there was significant difficulty getting over the hump in the first place.
- $800 million euros in domestic deposits flowed back into Greece after the bailout extension.
- Bravest investors say the Greek crisis is already priced into European equities.
- Greek debt hits 175% of GDP.
So the big question that looms is, what happens come end of June when the current bailout expires? Another extension, or the start of turmoil in the world markets?