The funds for a Greek exit

23 min Read Published: 17 Jun 2015

greece cliffThe saga of Greece possibly defaulting on the money it owes as a result of its bailout and quitting the eurozone has the same feel as a DFS sofa sale, it's never ending. And so it is that once again Greece is standing on the edge of the precipice staring down.

Thursday 18th June is a crucial date in the ongoing talks between Greece and its creditors, who happen to be the International Monetary Fund (IMF), the European Central Bank (ECB), the European Financial Stability Facility (EFSF) and anyone who holds Greek Government bonds.

The IMF, the ECB and the EU first bailed out Greece in 2010 and Greece has been having to repay the debt ever since. It is an incredibly complex situation that few people truly understand.

To use an analogy, imagine if Greece was a person who couldn't get finance or loans from the mainstream creditors.

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