Friday 23 February 2018

Megan Greene: Athens will take long road to an eventual euro exit

A disorderly default is likely to be avoided but Spain still faces major hurdles and Ireland needs a second bailout, says Megan Greene

Megan Greene

The Greek political situation raises the risk of the country undergoing a disorderly default and exit from the eurozone, but ultimately I think this will be avoided -- for now.

We can expect a Greek government, led by either New Democracy (ND) or the anti-austerity Syriza, to attempt to renegotiate the terms of its bailout programme.

There will be dangerous brinkmanship by both the new Greek government and the troika, and there is always a risk that one side will make a mistake and Greece will default and exit the eurozone by accident.

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