- likelihood still lower than during the peak of crisis in 2012
- recent political turmoil in Greece have increased the risk
- higher risk could have negative credit implications for other member states
- european policy makers could use their powers to limit risk of contagion in short term but would face challenges in medium term
- in the event of exit the Greek economy would probably suffer severe economic damage in the short term
EURUSD 1.1789 weighed by yen pair selling as USDJPY heads lower still
