Publication

The political forces in Greece that have committed to fulfill the terms of the EU/IMF bailout are likely to form a stable government, securing a safe parliamentary majority. This indicates that the risk of a Greek eurozone exit (a 'Grexit'), threatening serious economic consequences for world economies, has at least for the time being been avoided. However, the constant pressure from financial markets shows the urgent need to accelerate work on a comprehensive plan for deeper integration, in particular in the euro area, in order to stop a further escalation of the crisis.