There is a 30% chance of Greece defaulting on its debt and leaving the Eurozone in 2015, according to a recent poll of euro money market traders published in Reuters.
While the poll median was 30%, one of the traders revealed that he/she feels absolutely certain (100%) that Greece will leave the single currency during the year, while a second one shared that he/she feels almost absolutely certain (99%) that such a thing could happen.
“Greece has nothing to lose … it seems that the ball is in the creditors’ court, they have to look for a compromise to benefit Greece,” said one of them.
Moreover, participating traders predicted that the European Central Bank (ECB) will make around 60 billion euros available to banks as its targeted long-term refinancing operation (TLTRO) on Thursday.
Lending in the Eurozone did not grow in April, as it had happened the previous month, despite that the ECB launched a trillion-euro bond buying program in March.
But “what would happen in case of a Grexit?”
Several scenarios and rumors have already begun to spread across the media worldwide over the last few days due to the current stalemate in negotiations between Greece and its international creditors, after the country’s proposals were dismissed by the European Commission over the weekend.
British newspaper Telegraph published a one-minute-long video on what would happen to Greece if the government decided to remain firm in its will to reject additional measures over pension reforms, general budget consolidation and decided to go bankrupt and leave the Eurozone.
https://www.youtube.com/watch?v=XmA4tIcVpfM
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