By Matthew Kerkhoff
Greece continues to steal the headlines, but beneath the surface, US economic data remains supportive. As an investor, where should we be focused?
Over the weekend 61% of Greek citizens voted “no” to the latest proposal from Eurozone creditors, which technically wasn’t even an option since the bailout-extension offer expired on June 30th.
The vote, when contrasted against a recent Bloomberg poll that shows 81 percent of Greek citizens want to keep the euro, makes for quite a predicament. Greeks don’t want to endure the pain of austerity measures to pay back their creditors, but they also don’t want to leave the currency union.
Adding to the dilemma, Tsipras doesn’t have a mandate to leave the euro. In order to secure one, he would have to go to the people, either via new elections or a referendum. Based on the heavily lopsided Bloomberg poll mentioned above, the chances of this occurring seem rather ... Log in or subscribe to continue reading.