Bloomberg Survey: Greece's Euro Exit Back on the Agenda Next Year

There’s still a danger that Greece will be forced out of the euro region by the end of 2016, according to 71 percent of respondents in a Bloomberg survey. Over half of the respondents stressed that the agreed assistance of € 86 billion is absolutely insufficient. That is the position of the IMF, but European leaders disagree. "Without removing off part of the debt, the package will not come for nothing ..." – quoted Bloomberg representative of Commerzbank.

Greek bonds plummeted during Tsipras’s six-month clash with the country’s creditors, with the yield on the 2017 bonds exceeding 30 percent before most trading was halted on June 26. Mario Draghi did almost everything possible to keep Greece in the euro without breaking the rules. Today Tsipras is back on the negotiating table for a new loan. The ECB will have to continue to act as lender of last resort...

“Apart from Germany, it appears that most people are in agreement that Greece needs a substantial debt writedown,” said Alan McQuaid, chief economist at Merrion Capital Group Ltd. in Dublin. “Unless they get it, it is hard to see the country surviving within the euro zone indefinitely.”