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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
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.
-
George Floyd: Did Black Lives Matter fail?
Feature The momentum for change fades as the Black Lives Matter Plaza is scrubbed clean
-
National debt: Why Congress no longer cares
Feature Rising interest rates, tariffs and Trump's 'big, beautiful' bill could sent the national debt soaring
-
Why are military experts so interested in Ukraine's drone attack?
TODAY'S BIG QUESTION The Zelenskyy government's massive surprise assault on Russian airfields was a decisive tactical victory — could it also be the start of a new era in autonomous warfare?
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
-
Los Angeles city workers stage 1-day walkout over labor conditions
Speed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billion
Speed Read
-
Bangladesh dealing with worst dengue fever outbreak on record
Speed Read
-
Glacial outburst flooding in Juneau destroys homes
Speed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creature
Speed Read