2 Jul 2015
Chances of Grexit now 50% - S&P
FXStreet (Mumbai) - The rating agency Standard and Poor's (S&P) is out with its take on the ongoing Greek crisis as markets head towards the referendum in Greece on Sunday.
As per S&P, the chances of Grexit now are 50%. The rating agency says Grexit would cause real Greek GDP to fall 20% below the baseline after 4 years.
On Greece
“Overall impact of Grexit would be severe for Greece but more contained for the rest of the Eurozone.”
“Grexit would worsen an already desperate situation for Greek banks.”
“Grexit may not immediately have negative rating impact for other Eurozone sovereigns.”
As per S&P, the chances of Grexit now are 50%. The rating agency says Grexit would cause real Greek GDP to fall 20% below the baseline after 4 years.
On Greece
“Overall impact of Grexit would be severe for Greece but more contained for the rest of the Eurozone.”
“Grexit would worsen an already desperate situation for Greek banks.”
“Grexit may not immediately have negative rating impact for other Eurozone sovereigns.”