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The Greek government is running out of time and money.
Hirtle Callaghan has been following the news on Greece’s financial troubles closely. Greece must quickly reach a deal with its eurozone partners to avoid defaulting on its payment owed to the IMF on June 30th. This potential exit of Greece from the Euro has been termed the “Grexit.”
Hopes for an agreement have been raised, but if the Greek government defaults on its loans it risks losing liquidity from the European Central Bank and could potentially return to the pre-Euro currency, the drachma.
We have been in discussion with economic experts at our manager partners and several common themes have emerged that we wanted to share with our community.