Greece’s bail-out reduces the risk of an imminent default, but a closer look at the economic and fiscal projections that the package is based on adds to evidence that the deal is a fudge. The only way a further default and Greek euro-zone exit can be avoided is if Greece eventually gets substantially more support and is prepared to accept years more of recession. Neither of these appears likely.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services