“This situation would be awful enough even if the Greek electorate supported the government’s accommodative stance towards the troika’s demands,” said Derrick, who notes a poll over the weekend found over 73 percent of voters want their government to get better terms.
A Moody’s note on Friday indicated Greece’s position has deteriorated materially since the beginning of the year and said it thought the chances of a Greek exit from the euro (related: What Happens If Greece Defaults ) had increased significantly.
“Based upon recent developments we would have to agree. Moreover, given the finely balanced political and financial position in Athens right now, the risk remains that something could happen over the next three months,” said Derrick.
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