Euro exit is 'likely' and 'manageable,' BAC's Meissner says
Bank of America Corp (BAC)’s head of global investment banking Christian Meissner said it’s “pretty likely” that Greece will leave the euro or quit the European Union altogether if anti-euro parties win Sunday’s elections in Greece, Financial Times Deutschland reported, citing Meissner.
Still, the “significant turbulence” that “doubtlessly” will come if Greece leaves the euro will be “manageable,” Meissner said, according to the German newspaper.
The European debt crisis that has engulfed Spain will not necessarily spread to Italy as the country has more fiscal leeway than Spain, Financial Times Deutschland cited Meissner as saying. [Bloomberg]