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Wednesday, June 28, 2017
UBS warns "Grexit" would divide eurozone system
ANBOUND

Though the future of eurozone crisis is now being forgotten, recently UBS Group AG has issued a warning that if Greece withdraws from Europe, the "orderly withdrawal from Europe" will become mere empty talk, and might even lead to the eurozone system fragmentation. From the current situation, Greece's choice might be a careful re-negotiation of fiscal austerity plans, or the actual debt default. But if the eurozone crisis continues to spread, the eurozone authorities need to take action to avoid the spread effect. One of the options may be proposing an update of the Maastricht Treaty to correct the imbalance in the current monetary union. However, for the outside world there are different opinions on the outlook of Greece. Moody's recently raised the Greek sovereign credit rating, as they see signs of temporary stabilization of the Greek economy temporarily.

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