Euro’s Value and Viability to be Tested if Greece Departs

What’s the ‘Grexit’ strategy of Europe’s common currency?  In a now famous 2012 speech that vowed to do whatever it took to put a floor under the single currency, stocks and bonds, European Central Bank president Mario Draghi said that “the euro is irreversible.”

Fast forward three years and that pledge is in doubt. After a dizzying and dramatic weekend of headlines, the odds of Greece leaving the euro have shot up, putting the common currency under renewed selling pressure.

When it comes to the euro’s future, there are two key questions. Will Greece indeed leave the ‘irreversible’ common currency? If it does, what could it mean for the euro’s value and viability?

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.