Grexit

Financial world shorthand for "Greek exit from the Euro".  The Economist was doing a long piece about this, listing pros and cons.  They point out that the Greek have borrowed hundreds of billions of Euros and in the event of Grexit, the lenders won't get paid back. And so it might be worth giving the Greeks another 100 billion Euro's or so to keep them running a while longer, and prevent (or stave off for a while) realizing those hefty losses.  True enough.
    What the Economist fails to talk about is the simple fact that the Greeks cannot and will not pay off those loans.  They just don't have the money, and no way they can they get the money,  not before Hell freezes over.
   So we are really talking about when the lenders to Greece have to admit how much money they lost (how stupid they have been).  Surely the lenders (banks mostly)  would like to put off that day of reckoning as long as possible, but aside from some bank officials having to reveal their stupidity in public, it doesn't make much difference.  The money is gone and won't be coming back.