While no official statements have been made by anyone, an external analysis is showing the first signs of Greece leaving the Eurozone. For those of us in SA, where the markets are highly reactive to what’s happening in Europe, could this bring the relief and stability that we’ve been waiting for?

This speculation comes on the back of the governor of the Bank of England announcing new facilities to pump funds back into the banking system. This includes a scheme called “funding for lending”, in which banks will be lent money by the Bank of England provided they prove that they will then lend an identical amount out into the wider economy.

Ed Conway, the economic editor at Sky News, feels that this move by the Bank of England, taken in the current economic context, is signaling the exit of Greece from the Eurozone. He also states:

Every policymaker speech we’ve heard in recent days has seemed to signal an acknowledgement that Greece is on the brink of leaving the euro; that it’s almost a foregone conclusion.

You know Greece, from the country that invented mathematics, I really did expect you to do a little better. Ratings Agency Fitch downgraded Greece’s credit rating last month from B to CCC, 3 steps away from the agency’s lowest rating.

[Source: Yahoo!]