Euro Crisis Has New Buzzword: 'Grexit'

That's slang for 'Greek Exit'
By Kevin Spak,  Newser Staff
Posted May 22, 2012 9:47 AM CDT
A man passes a plaque of a Greek one-drachma coin, which was replaced by the euro in 2002, in central Athens, on Tuesday, May 22, 2012.   (AP Photo/Petros Giannakouris)

(Newser) – Want to strike fear into the hearts of European bankers? Throw around the term "grexit." It's slang invented by Citigroup referring to Greece's euro exit, and it's part of a growing lexicon of weird terms surrounding the eurozone crisis, the Wall Street Journal reports. Other key terms to know:

  • Guero—A Deutsche Bank invention, referring to a parallel currency Greece could create while remaining nominally part of the eurozone. How is it pronounced? "Very good question," its creator says. "I'd say 'gh-euro.'"
  • Neuro/sudo—terms, coined by ex-Barclays CEO Martin Taylor, referring to hypothetical currencies that could be created by splitting the euro into a stronger northern currency (neuro) and weaker southern one (sudo).
  • Drachmail—the idea that Greece is using the threat of returning to the drachma to blackmail Europe.
  • Eurogeddon—self explanatory.
(Read more Grexit stories.)

My Take on This Story
Show results without voting  |