For Greece, All Bets Are Off

Bookmaker stops accepting bets, bonds yields rise
For Greece, All Bets Are Off
A municipal worker walks between Greek flags in Athens, on April 9, 2015. AP Photo/Yorgos Karahalis
Valentin Schmid
Updated:

It was only Wednesday that German Finance Minister Wolfgang Schäuble came to New York to assure markets that for Greece debt was not a problem. A day later, the chances of the country leaving the euro because of the debt are higher than ever.

“No one is interested in backing Greece to stay in the Eurozone until the end of the year, so we decided to pull the plug on the markets until either the decision to leave is taken, or the crisis point passes,” said Graham Sharpe of British bookmaker William Hill.

If nobody is willing to bet on Greece staying in the euro, there is no market to make for William Hill.

Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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