With a referendum scheduled for Sunday and frantic negotiations spilling onto the front pages, the possibility of a Greek exit from the euro area, or Grexit, looms large. It is hard to see how Grexit could be avoided if the referendum results in a “no” vote. Such an exit is fraught with danger, yet it also holds hope for stronger economic growth in Greece over the next few years. The current government in Greece does not instill much confidence in its ability to handle the technical challenges of Grexit. Indeed, Grexit would be disruptive even under the most competent and experienced of administrations. To achieve ... (full story)