Fitch: Euro exit probable for Greece
Fitch’s global head of sovereigns, James McCormack, stated that an eventual exit from the eurozone is now the probable outcome for Greece.
He says the referendum’s “no” vote was a defining moment, providing a substantial boost to the position of the SYRIZA-led government in its negotiations with creditors.
However, Greece may have miscalculated: “Greece’s strong argument in favor of greater accommodation on the part of creditors faces several hurdles that are likely to prove collectively insurmountable.”
[Reuters]
