You’re Now A Radical If You Think Greece WON’T Default

5/5 greece protest

A whopping 73% of global financial professional believe a Greek default is likely, according to a new Bloomberg poll.

That’s far higher than we would have imagined despite holding a similar view.

Consensus has now accepted the notion of a Greek default, and is getting pretty close to believing in an exit from the Eurozone as well:


Only 23 per cent say they expect the region’s almost $1 trillion rescue package to both keep the European monetary union together and prevent a debt default by a government, according to a quarterly poll of investors and analysts who are Bloomberg subscribers. More than 40 per cent say Greece is likely to abandon the euro.

A plurality — 48 per cent — give the 67-year-old central banker an unfavorable rating in the latest poll, while 41 per cent view him favourably. In January, Trichet received a 60 per cent approval rating, with 27 per cent regarding him negatively.

Basically, expecting the worst from Greece isn’t a radical view anymore, it’s pretty standard. True radical thinkers expect Greece to pull through.