Citi: Chance of Greek eurozone exit at 90%

Citigroup’s chief economist, Willem Buiter, said Thursday that there’s a 90% chance Greece will flee the euro currency in the next 12 to 18 months. The so-called Grexit — a term coined by Buiter — would most likely take place by early 2013, the Citigroup report said.

Buiter and his team had previously assessed the probability of a Greek exit at 50% to 75%.
Greece’s creditors had been willing to give the nation a break in the hope that a new government would help get its fiscal house in order, said Buiter. But that doesn’t appear to be the case anymore.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza