Grexit

Grexit is like Brexit, but with Greece instead of Britain.

Grexit refers to Greece’s potential exit from the eurozone (EU). This is a big deal, since the EU kind of (not really, but kind of) makes Europe like one country, and all the countries within the eurozone like “states.” By this, we mean that the EU is a big treaty between a bunch of European countries that makes them all promise to use the euro as currency, to cooperate with each other via trade, and to generally work together for the benefit of them all.

Britain voted to leave the EU through Brexit because they felt they would be stronger on their own, as Britain has a great GDP and economic hub. But Greece is different. Their crisis left them all...crumbly. Grexit would be for almost the opposite reason as Britain, which would be to switch currencies and become more insular in the hopes that it would help Greece recover from its long-drawn crisis. Some think it would help; others say Grexit would make things even worse.