Greece’s presence in the Eurozone could be secure for now, but it is far from guaranteed in the future, according to economists.
According to a Bloomberg poll, 71% of 34 economists said there will be a Grexit by the end of 2016.
At the same time 70% of the respondents said Greece is in the clear for 2015. However, 50% believe that Greece’s 86-billion-euro bailout package will prove to be insufficient.
The main areas of concern are the sustainability of the Greek debt and the refusal to restructure it as well as the implications of implementing even more austerity.
Peter Dixon, global economist at Commerzbank AG in London, said that any deal that does not include some kind of debt relief will not be enough.
“Loading additional loans onto a country which cannot afford to repay them, corresponds to Einstein’s definition of insanity: Trying the same thing over and over again in the expectation of different results,” he added.
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