Sunday may have been the beginning of the Grexit.
When Greece’s government over the weekend declared capital restrictions and ordered banks to remain closed the next six working days, it effectively shut off the country from the other 18 euro-zone countries.
“The risk of a Grexit has significantly increased. Nobody knows what will happen. There is no precedent,” Nicholas Spiro of London-based consultancy Spiro Sovereign Strategy told Handelsblatt Global Edition.