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
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.