\grɛgzɪt, grɛksɪt\
A portmanteau of "
Greek/Greece" and "exit," the term "Grexit," popularized in May/June of 2015, has been applied to the possible exit of Greece from the European-currency zone, popularly known as the "eurozone" (also "Eurozone," "Euro zone," and "euro zone") because of its
heavy debt to EU creditors like
Germany.
Greece's recent "no" vote, which means it's rejecting the EU's plan to pull
Greece out of debt, might be a victory for
Greek sovereignty and democracy, but it's probably going to lead to a Grexit from the eurozone.