Day by day the lexicon of weird terms surrounding the eurozone crisis is ever growing, with the term “Grexit” hot on everyone’s lips as the Greek elections loom. But what is the history behind all these “terms” and what do they actually mean?
Grexit: A term Citigroup coined in February as shorthand for Greek euro exit. Initially met with groans, it is now in wide use among analysts and investors. In some texts we also came across the term “Spexit”.
Guero: Deutsche Bank came up with the idea that Greece could use a parallel currency while formally remaining in the monetary union, to avoid a catastrophic abrupt switch.
Neuro/Sudo: Martin Taylor, chairman of Syngenta and former chief executive of Barclays used it in 2010 to describe a stronger currency for use in Northern Europe following a euro-zone split. The weaker one would be named “sudo” .
Drachmail: Faisal Islam, economics editor of the U.K.’s Channel 4 news, came up with the term—a reference to Greece’s former drachma—to describe using the threat of a Greek euro exit as “a negotiation tool.”
Eurogeddon is self explanatory and it doesn’ t take a terminologist to understand the rest either:
Banksters, Catastroika, Democrazy, Grelection, Greek dra(ch)ma
Source: The Wall Street Journal
This entry was posted in Uncategorized
. Bookmark the permalink