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Screenshot of a breaking news alert e-mail from Q2 2017
In February this year, LeapRate discussed the potential exit by Greece from not only the Eurozone single currency, but also the European Union itself.
In February, LeapRate Managing Editor Andrew Saks-McLeod stated that Greece would default on its commitments exactly four months from that particular broadcast, citing the exact reason that have come to light during recent days. Those four months have now elapsed, rendering the prediction correct in terms of timescale and likely outcome.
At that time, the deadline for commencing the repayment of the debt by Greece was extended by four months, however LeapRate predicted, with absolute accuracy, that the default and potential exodus by Greece from the Eurozone and European Union would occur four months from February 25, the exact date and time of last week’s suggestion of a referendum on austerity by Greece’s Prime Minister Alexis Tsipras.
When asked if the four month extension which Greece was granted in order to begin payments towards its debt was “just a timebomb” by market analyst Yaron Mazor, Mr. Saks-McLeod categorically said ” Yes. If after four months, the International Monetary Fund and European Central Bank grants no more bailouts, and says that Greece has had bailout after bailout and is still not producing, if Greece leaves, which it probably will because that is the whole ethos of the newly elected party, in that they are not going to pay that debt back.”
A fragmentation of the European Union’s common market was predicted, and its consequences, with regard to which Mr. Saks-McLeod stated “If Greece leaves the European Union and the Eurozone, then the debt will stay within the European Union. No other country wants to be saddled with that huge debt that will never be able to be paid off.”
Watch LeapRate’s prediction here: