Around the world there are serious discussions going on about the impact of a Greek exit from the euro. I would not be at all surprised if they do. At the moment they are being told that they cannot leave, that it is not possible legally. We just have to see how this plays out but until this comes to a head we can expect some high volatility to say the least. The euro has held up on the back of some pundits spinning the 'Grexit will be good for the euro' meme. It will be interesting to see how it plays out.
Greece 5-year CDS above 2000 bps, up over 700 bps since the election.
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