Greece after the "no"vote

Please click the link below to view Shane Oliver's views on Greece following the no vote.

Key points covered are:

  • The Greek no vote means more uncertainty ahead regarding Greece, with significantly heightened risk of a Greek exit from the Euro.
  • The threat of a flow on to other Eurozone countries is likely to keep markets on edge in the short term.
  • However contagion is likely to be limited as the rest of Europe is now in far stronger shape than was the case in the 2010-12 Eurozone crisis and defence mechanisms against contagion are now stronger.
  • As a result we don't see the Greece derailing the European or global economic recoveries.
  • So while the correction in shares looks like it might go further, the broad rising trend in markets is likely to continue.