"Grexit," stage.....??

There were articles today in The New York Times, The Economist (online) and the Wall Street Journal about the chances of Greece exiting the Euro and what it might mean. (The New York Times article was also carried by Yahoo Finance.) The question is indeed, what will it mean? The Times article gave considerable space to the view that European banks and other institutions that could be harmed by such an event have had plenty of time to prepare for it and have taken steps to minimize the potential damage. It gave brief mention of "some experts" (unnamed) who still feel that it could be very damaging. But the thrust of the article was that it could be OK. (But probably not OK for Greece.) Government entities and their representatives do have some ability to influence the flow and content of the news simply by releasing or not releasing information, by offering opinions and analysis and so on. The news coverage today could be part of an effort to prepare the public and investors for the "Grexit," as some are now calling it. The Economist opines that it is still a bad idea, but perhaps inevitable. One of the newly famous Greek politicians, called a radical in most publications, asserted that the Eurocrats are bluffing. Maybe. But it appears that the Greeks are not bluffing in their determination to follow a course that may land them outside the Euro whether they like it or not. Journalism is far from an exact science, and it is possible that the views we are getting of the situation are inaccurate. (Heavens, how could that be!) We don't know whose fault any of this is. (Greek tabloids portraying the German chancellor as a Nazi are certainly not helping.) But events seem to be travelling in the direction of "Grexit."