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Greece Elections Not a Game Changer

Giordano Lombardo
calender-icon Posted on June 21, 2012

The prospect of Greece leaving the European Monetary Union seems avoided for the time being. However, escaping the worst-case scenario does not solve all of the underlying problems.

The situation in Greece remains difficult and we cannot discount the fact that Greece will need to renegotiate the bailout conditions or even negotiate a new bailout. With ?11 billion of spending cuts required and a severe recession underway (GDP at -6.9% in 2011), Greece will need to find a way out of this negative spiral.

How do we expect the euro crisis to evolve?


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