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27 Feb 2015
A dirty Grexit’? - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank explained that they have argued on several occasions that both Greece and its creditors have an interest in keeping Greece on board.
Key Quotes:
".. seen from the viewpoint that a dirty exit would likely cause considerable collateral damage for both sides."
"However, the turbulent process we have witnessed over the past weeks (which ultimately led to the agreement with the Eurogroup on 20 February) also reminds us of the possibility that relations could sour, up to such a point that a ‘Grexit’ (either dirty or controlled) does become a real possibility."
"Whilst stressing that this is not our base scenario, such a course of events is likely to present the Eurosystem with the ultimate test as to how it will deal with a currency changeover cum default."
Key Quotes:
".. seen from the viewpoint that a dirty exit would likely cause considerable collateral damage for both sides."
"However, the turbulent process we have witnessed over the past weeks (which ultimately led to the agreement with the Eurogroup on 20 February) also reminds us of the possibility that relations could sour, up to such a point that a ‘Grexit’ (either dirty or controlled) does become a real possibility."
"Whilst stressing that this is not our base scenario, such a course of events is likely to present the Eurosystem with the ultimate test as to how it will deal with a currency changeover cum default."