What are the odds of a 'Grexit'?
On Sunday, Greek voters decisively rejected a European bailout referendum. And now, a "Grexit," or Greek exit from the eurozone, seems more likely than ever for the debt-saddled nation.
Wolfgang Piccoli, the managing director at Teneo Intelligence, told CNBC that the likelihood of a Grexit is now 75 percent, up from 15 percent. Morgan Stanley and Credit Suisse agree with that 75 percent figure. Others are guessing the chances could be even higher: Oxford Economics Ltd. believes the possibility is closer to 85 percent. "Exit now is the most likely scenario," Barclays analysts warned in a report.
Citigroup, however, reminded readers of its report that a Grexit could still take many months. And as Goldman Sachs says, there are still ways for Greece to strike a deal with its creditors and remain in the eurozone.
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Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.
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