Greek withdrawal from the eurozone

The Greek withdrawal from the eurozone is the potential exit of Greece from the eurozone monetary union in the 2010s, primarily for the country or its government to deal with its public debt. The controversial and much discussed possible exit is often referred to in financial circles as "Grexit", a portmanteau combining the words "Greek exit". The term was coined by the Citigroup economist Ebrahim Rahbari and was introduced by Rahbari and Citigroup's Global Chief Economist Willem H. Buiter on 6 February 2012 Proponents of the proposal argue that leaving the euro and reintroducing the drachma would dramatically boost exports and tourism and encourage the local economy while discouraging expensive imports. Opponents argue that the proposal would impose excessive hardship on the Greek people, cause civil unrest, destabilize and harm the reputation of the eurozone, and could cause Greece to align more with non-EU states.