Greece missed a payment to the IMF on Tuesday and defaulted, but now they are willing to do the deal, or most of the deal, that would have prevented it. According to CNN:
Whoa! The Greek government is now ready to sign on to a bailout package it threw out just days ago, but the about-face won't fix the country's crisis any time soon.
Additional coverage of the Greek Referendum and the political backlash in the Eurozone can be found from the BBC.
It looks like they want to add amendments, so this is not a done deal. Maybe it's not too late for Greece? Or is the Euro better off without Greece? Or Greece without the Euro?
(Score: 0) by Anonymous Coward on Friday July 03 2015, @12:11AM
Net exporters like Germany like a relatively low valued currency because it makes exports more competitive. That is, if Germany was using it's own currency it would be much more expensive to buy German products, which would have a negative effect on GDP.