The probability of a Greek exit from the euro has not receded in the wake of the ECB announcement; on the contrary, it's now more likely because it's "more manageable" Troika leaders (from the ECB, IMF, and the EU) probably don't think a Greek exit is as big a deal as they thought it was before the ECB announced its new plan A Greek exit would still cause capital flight from Italy and Spain but would be necessarily accompanied by massive global central bank intervention. (...)
Nevertheless, Grexit is not certain and its potential timing is highly uncertain. The risk of Grexit in the next couple of months probably has receded, with deadlines being pushed off. Policymakers may be unwilling to trigger Grexit in the run-up to the US elections, and while Middle East tensions are so high.
Read more: http://www.businessinsider.com/citi-greek-exit-from-euro-more-likely-2012-9#ixzz271glbVfT
Read more: http://www.businessinsider.com/citi-greek-exit-from-euro-more-likely-2012-9#ixzz271gVqLrO
