Market Thinks It's Time For Greece To Go

It’s time for Greece to go bye bye. Whether they do or not is anybody’s guess, but for the sake of clarity, it is time Greece puts up or shuts up. Stay in the euro or go, guys. Make up your mind.

“It will be nice when this is finally over,” says Arent Thijsen, a fund manager at T&E Inmaxxa, a $250 million asset management firm outside of Amsterdam. “Greece leaving the euro is the most definite way to get Greece off the front pages.”

The Greek government said it will close its banks on Monday in likely preparation for a default on its debt.

Greece has been a headline now for over two years, making it the poster child of highly indebted developed nations that can’t climb their way out of a paper bag. Prime Minister Alexis Tsipras has given new meaning to the word Greek tragedy, with some wondering if he actually enjoys keeping the drama alive more than he does putting an end to it. At this point, the market is convinced he doesn’t know what he is doing other than doing his best to get his debt load reduced to pennies on the dollar.

On Sunday, the newspaper of record for f global capitalism, the Financial Times, published an op-ed against Tsipras, saying he has taken Greece to the brink. The locals are expected to vote on a referendum for the debt crisis on July 5, but as the FT points out, there may be no deal with the European Central Bank to be hand. The ECB to now has been Greece’s biggest white knight.

At this point, says Thijsen, “Tsipras and (Finance Minister) Yanis Varoufakis should be judged for high treason against the Greek state. They’ve exhibited an unbelievable level of incompetence, arrogance, and a total lack of diplomacy. They have no economic view on how to recover from this debt crisis.”

Greek Prime Minister Alexis Tsipras delivers a speech during a parliamentary session in Athens on June 28, 2015. Greece will hold a referendum on July 5 on the outcome of negotiations with its international creditors. In a surprise move on Sunday, it announced it will put capital controls in place and enforce a bank holiday starting Monday. Maybe he knows what he is doing? Market thinks not….(Photo by read ANGELOS TZORTZINIS/AFP/Getty Images