Pun on Greece has been active in recent weeks. While economic circles widely discuss "Grexit", the Greek crisis vocabulary has added some new words.
Last week brought the word "Grimbo," or Greece in limbo, coined by a group of Citigroup economists. They are the same people responsible for the now widely-used "Grexit" term in February 2012, when the idea Greece might leave the euro zone first became a possibility. Economists at Bank of America-Merrill Lynch decided they wanted to participate, coining "Grexhaustion."
"There is always a deadline after the final deadline (contributing to the Grexhaustion)," economists Gilles Moec and Ruben Segura-Cayuela wrote, noting that the continual confrontation between Greece and its creditors has had one major casualty: the country's economy.
"Traders have gotten fairly comfortable with the
idea of where Greece is, so there's a bit of mocking and complacency,"
said Weston, who suggested "Gretch" as a potential entrant.
The standoff between Greece and its partners has been a hot topic in the recent days.
The country is running out of cash and it needs a last tranche of bailout aid in order to meet debt repayments and to pay its domestic wages and pension bill this month. Yesterday, Greece's Prime Minister reshuffled its negotiating team, taking Varoufakis off the field and tapping Deputy Foreign Minister Euclid Tsakalotos, an economist well liked by officials representing creditors, as coordinator.
Still, many think that the situation is disturbing.
"You can [use the wordplay to] distract yourself from what's a pretty horrible problem if you happen to be Greece," said Richard Jerram, chief economist at Bank of Singapore.
If the Greece standoff leads to the country defaulting with the International Monetary Fund and the European Central Bank, there will likely be "major changes in word-smithing."
