The Greek financial crisis will not endanger the eurozone as a whole, a new survey of hedge funds and the financial services sector has found.
The Greek financial crisis will not endanger the eurozone as a whole, a new survey of hedge funds and the financial services sector has found.
Almost 80 per cent of those asked by the Chartered Institute for Securities and Investment (CISI) believes that the economic area will survive despite the crisis.
Commentators highlighted the fact that the threat of a domino effect is likely to illicit a stronger response from the group of 16 countries.
One added: “The euro has always been a political project rather than a financially pragmatic one. For this reason, its members will not allow it to collapse – even if this comes at a great cost.”
Late last month, Ignis Asset Management economist Stuart Thomson warned that the Southern Mediterranean economies could undergo deflation as a result of the Greek economy’s impact.
Both Germany and the Netherlands face devaluation as a result of their resistance to providing taxpayers’ money to Greece.
