Proposals

With its public-debt levels among the lowest in the EU and government pledges to cut the budget deficit "Bulgaria has been partly shielded" from the sharp drop in stock and bond prices on global markets this week, Bloomberg reported on Wednesday.

By Nikos Chrysoloras

The chances of a breakdown between Greece and its creditors are small, as neither of the two sides is willing to risk the breakup of the euro area, Greece?s administrative reform minister said.

Bulgaria is potentially exposed to a Grexit contagion more than its neighbors in Southeast Europe, a Morgan Stanley report argues.

"While the direct economic impact of a Grexit looks manageable, we think that the banks are by far the most serious potential channel of contagion," Morgan Stanley Research analysts are quoted as saying, in a Bloomberg article authored by Slav Okov.

An unpleasant surprise was held in store for Germans and tourists visiting ATMs over the weekend, in Berlin. The ATMs were void of money, and thus noone could even withdraw 20 euros!

By Jeff Black

Asian companies are thinking twice about their dealings with European partners as jitters persist over whether Greece will splinter the euro area, the Asian Development Bank?s chief economist said.

Moody?s rating agency warned on Thursday that the impacts of a Greek euro exit could be much wider than many people think.

By Ian Wishart

Greece, mired in a protracted financial crisis and at loggerheads with its bailout stewards, will leave the euro, according to the majority of investors, analysts, and traders in a Bloomberg survey.

Grexit will lead to the biggest “haircut” of wages in Greece’s history, was the stern warning issued on Wednesday by Nobel Prize-winning economist Christopher A. Pissarides.

The Greek crisis at least provides economists with the proverbial food for thought, as everyone seems to want to come up with the next “trend” in describing a Greek crisis debacle.

The Economist magazine seems to have been tired from overuse of the “Grexit” term and wants to adopt a more…positive term which doesn’t throw Greece out of the Eurozone.

By Joshua Robinson and Marcus Bensasson

A Greek default doesn?t mean the country has to leave the euro area, economists say.