"Grimbo” (Greek/Greece + limbo) is a term that was used to describe the weak Greek economy in 2012 and in 2015. In October 2012, “Grimbo” was used by Alex White of JP Morgan.
In April 2015, “Grimbo” was used by Citigroup. BloombergBusiness credited Citigroup Inc. economist Ebrahim Rahbari, but a Twitter message a day earlier credited Citigroup Inc. economist Willem Buiter.
London, United KingdomFinancial Services
Previous J.P. Morgan
Education London School of Economics and Political Science
Director, Global Economics at Citi
London, United Kingdom Financial Services
Goodbye Grexit, hello “Grimbo” - JP Morgan’s term for the doubt, ambiguity + obfuscation likely to mark Greece’s longer-term path of limbo.
4:34 PM - 30 Oct 2012
‘Greek limbo’ is two words. TWO!
David Keohane | Oct 31 2012 10:35
JP Morgan’s Alex White points out that the next few weeks are going to be critical and that this one is likely going to the wire… again.
And, while we quite like White here at FTAV, we’re not totally sure we can forgive his use of the term “Grimbo” — Greek Limbo — no matter how apposite it may be. To be honest, we were expecting more of a Halloween theme.
@Citi’s Willem Buiter dubs drawn out Greece negotiations #Grimbo—Greece in limbo. Sees Grexit unlikely but cap controls more possible.
6:41 AM - 22 Apr 2015
Grexit Is So 2012. Citigroup Introduces Grimbo to Crisis Lexicon
by Simon Kennedy
4:25 AM EDT
April 23, 2015
Citigroup Inc. economist Ebrahim Rahbari is again adding to the dictionary of financial markets.
In February 2012, he coined the term “Grexit” to describe the risk of Greece leaving the euro area. At the time, he and his fellow economists at Citigroup put the probability at 50 percent within 18 months. They later raised it to 90 percent by 2014.
As the euro proved more durable than he predicted a few years back, Rahbari has come up with a new shorthand. He now describes the outlook as “Grimbo”—an amalgamation of Greek limbo—“for those grey scenarios where Greece isn’t going to get money from the Europeans and there’s no resolution for a durable horizon,” Rhabari told Bloomberg Television’s Erik Schatzker and Stephanie Ruhle on Wednesday.
Instead of ‘Grexit’, worry about ‘Grimbo’
By Sara Sjolin
Published: Apr 23, 2015 9:21 a.m. ET
LONDON (MarketWatch) — Investors have had to grapple with the prospect of a “Grexit” and a “Grexident” — and now there’s also the “Grimbo” to deal with.
Citigroup has just added a new word to the crisis lexicon, warning that Greece could fall into financial limbo — a “Grimbo” — if Athens fails at securing more money from its international lenders and the reform negotiations remain deadlocked.
Forget “Grexit”, “Grimbo” Has Arrived
Submitted by Tyler Durden on 04/23/2015 09:22 -0400
If you didn’t know any better you might think “Grimbo” was a new Sesame Street character. Far from being the name of something that brings smiles to the faces of young children however, it’s actually the latest one-word take on the likely outcome of Greece’s protracted, painful negotiations with creditors, which will continue tomorrow in Riga where progress is, according to pretty much everyone that will be involved, unlikely. The new term follows in the footsteps of the classic (but now tired) “Grexit” and its underrated predecessor “Graccident,” and refers to two of the four outcomes Citi imagines are possible in the unfolding Greek drama. Here, via Citi, are the scenarios that would constitute Grimbo:
“Those could produce a mandate for a new bailout agreement with the Eurozone or pave the way for an eventual Grexit, but this could still leave Greece in limbo for an extended period of time - Such a ‘Grimbo’ scenario can, but need not end in, Grexit. Grexit is not a well-defined legal or Treaty base step.”
Time to add a new word to your vocabulary ... ‘Grimbo’
Thu 23 Apr 2015 23:23:29 GMT
Author: Eamonn Sheridan
Grimbo has just been added to Grexit and Grexident
We all know Grexit ... the nifty jargon for a Greek exit from the eurozone
And you may have heard the more recent Grexident ... an accidental exit for Greece due to all this dilly-dally
Well, now there’s ‘Grimbo’
I struggled with trying guess this one. I thought it might be a combination of ‘Greek’ (D’uh...) and ‘bimbo’, but couldn’t see its relevance to the crisis..
New York City • Banking/Finance/Insurance • Thursday, April 23, 2015 • Permalink