Grexit (‘gregzit’) noun
1. Greece leaving the Eurozone/dropping the euro because of its debt crisis
That hasn’t happened yet but in a nutshell: the Greek economy is awful and the government has defaulted on its loans. Some essential links that explain what’s happening:
- Greece is holding a nationwide referendum over whether or not to accept a bailout with austere strings attached.
- The Guardian’s Simple Guide to the Greek Debt Crisis
- Greece’s Debt Crisis Explained (NY Times)
Photo by Gwydion M. Williams