Greece: Should I Worry?

As Greece continues to dominate the financial news, many investors are left to wonder how this may affect their investment portfolio.  After the initial knee-jerk market reaction to the Greek debt crisis, the volatility of the markets has moderated from the first couple of days.  As I write this, the outcome of the Greek debt crisis is far from over so continued volatility over the short-run is expected.  However, the long-term perspective on Greece should not change the strategy of a diversified portfolio.  As the Greek crisis unfolds, it should not have a major long-term global impact. Greece’s GDP makes up just 0.3% of the Global GDP – about the size as a mid-sized state.  Much of the Greek debt is owed to countries and large institutional investors equipped to deal with a non-payment of debt – should it come to this.  Most important, it is in the best interest of Greece and the Eurozone to come to an agreement or provide a soft landing for Greece should they default.  In the short-run, this will continue to headline the news and influence the markets. In the long-run, the markets will get back to the fundamentals of a steady U.S. economy and recovering European economy.


Kevin McNab

This article is written by Kevin J. McNab. Kevin is President of ACE Wealth Partners, LLC and is a CFP®, ChFC®, and CRPC®. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. The views expressed in this blog post are as of the date of the posting, and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Please note that nothing in this blog post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants, or attorneys regarding your individual circumstances and needs. No advice may be rendered by ACE Wealth Partners, LLC unless a client service agreement is in place. If you have any questions regarding this Blog Post, please Contact Us. Please read our website DISCLOSURE carefully for additional information.