Standard & Poor’s Ratings sees 1 in 3 chance of the Hellenic country exiting the euro area in the coming months according to a report published today on likelihood of Greece leaving the unique currency and its potential contagion across the bloc.
S&P believes “there is at least a one-in-three chance of Greece exiting the Eurozone in the coming months, following national elections on June 17,” says the report.
“This could be brought about by Greece rejecting the reforms demanded by the troika and a consequent suspension of external financial support,” continues the S&P paper.
“However,” S&P concludes, “we note that the potential impact on other “peripheral” sovereigns in the Eurozone would be less clear cut. We believe that other sovereigns would be unlikely to follow any Greek exit.”
(source: FXstreet)
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