Having checked the Paddy Power, William Hill and Ladbrokes websites for the odds on Grexit, I see that events are moving on and that the odds on GREXIT happening are increasing.
Dr Alf thinks that both sides are seriously underestimating the costs of GREXIT and he is correct in that assertion.
The costs of bailing out Greece and keeping her in the Euro have to be calculated both for this negotiation and for future ones possibly stretching out for years into the future, as Greece is to put it mildly, a recalcitrant debtor nation with no past record of repayment, economic reform nor sense of obligation. Greece’s political leaders are cunning, untrustworthy and not negotiating in good faith, and until they are replaced with genuine people who understand that nobody owes Greece nor anyone else a living, we should stop negotiating and cease bailing them out until they come to their senses.
I do not fear Portugal, Italy, Spain or Eire leaving the Euro because their situations are different. However, as surely as night follows day, bailing out Greece again will lead to accusations of special treatment and demands for transfer payments from richer countries in Europe notably Germany, the Scandinavian countries, France and the UK.
Time to draw a line in the sand and bring about an end to Greek prevarication and game playing.