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What is Grexit?
August 17, 2015, 4:01 pm

The word 'Grexit', after being picked up by media worldwide, may well worm its way into the official lexicon but besides the fact that it is a play of the two words – "Greek" or "Greece" with "exit" – it is of a significant importance to the people of Greece.

Although created by Citigroup's Ebrahim Rahbari and first published in an informational paper authored by him and Citi Chief Economist Willem Buiter, it certainly has Greek roots beyond the obvious "Gr"; the word "exit" itself comes from the Greek "exodos", meaning "going out".

Geopolitically, the fairly new word refers to the probability of Greece leaving the Euro with an impending potential financial disaster in Greece and the rest of Europe, as a result of its most-severe crisis since the restoration of democracy because of a combination of international and local factors the Greek economy faced. 

Grexit's possibility lies on two factors – the reinstated pro-bailout forces, and one or more bridge loans for Greece, to help manage Greece's debt and avoid a full default.

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