ATHENS: There is 50-60% chance that Greece is going to default on its debts and a 20-30% of a Grexit, says UBS economists. The probability is from economists at global investment banking giant UBS, which just outlined its pessimistic view, citing “growing liquidity problems.”
Greeces owes the International Monetary Fund (IMF) nearly half a billion euros on 9th April. Finance minister Yanis Varoufakis says the payment will be made. But that follows comments from a junior minister last week, which suggested that the payments would be delayed until Greece got its latest bailout money.
Greece has a tentative agreement to unlock some bailout assistance, but needs to present a detailed list of reforms something that its creditors haven’t seen (to their standards) yet.