Grexit hasn’t been cancelled – it’s just been delayed

Greece could well yet decide to leave the euro, says Matthew Lynn. And if that happens, the markets will be caught unawares.

The sun-drenched beaches should be packed with British and German tourists enjoying cheap holidays. The factories should be buzzing with orders for exports for northern Europe. And the fields should be teeming with olives to send around the world.

To read some of the commentary from 2011 and 2012, you'd assume Greece would be out of the euro by now, and that, freed from the shackles of the single currency, it would be booming again.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.