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Harold Evensky, a certified financial planner, professor in Texas Tech University鈥檚 Department of Personal Financial Planning and chairman of Evensky & Katz/Foldes Financial Wealth Management in Miami, is available to comment on Greece鈥檚 financial situation and potential impact of it staying or leaving the Eurozone. On Thursday Greece submitted a measure to European finance ministers, which will be reviewed this weekend before its contents are made public. Reports in Greek media say the measure includes tax increases and spending cuts of more than 12 billion euros for the Mediterranean nation.

ExpertHarold Evensky, personal financial planning professor, (806) 834-5042 (office), (806) 392-2525 (cell) or [email protected]

鈥� On Sunday, Greek voters overwhelmingly voted against certain bailout terms that are not much different from those Greek Prime Minister Alexis Tsipras submitted Thursday.鈥� The BBC reported Friday morning the submitted plans, described as 鈥渢horough,鈥� are intended to keep Greece in the Eurozone. A decision could be made over the weekend.

鈥� 鈥淭he Greek government鈥檚 expectation that a strong 鈥榥o鈥� vote would place them in a better bargaining position seems to have been a bad bet.鈥濃�� 鈥淎lthough many 鈥榚xperts鈥� believe Greece will remain in the Euro universe, I spoke to one major institutional investor this week who said his firm places odds at 80 percent that Greece will exit the euro. Should that happen there will likely be short-term market turmoil; however, for well-diversified, long-term U.S. investors it is not likely to have significant long-term impact.鈥濃�� 鈥淲hile there is no expectation of a global market contagion, it may provide some short-term buying opportunities.鈥濃�� 鈥淔or those who wish to worry, they may transfer their attention to China, as unfolding issues there are likely to have significantly greater impact.鈥�