Ruparel, Raoul, (2015), “What might a Grexit mean for EU Reform and Brexit?”, Open Europe blog, 11 June
On balance we still believe Greece will stay in the euro, just. But a Grexit is closer than ever and if it were to happen it would cause huge disruption in the Eurozone and EU. As such it would completely change the nature of any other negotiations going on in the EU. From the UK’s perspective, it would become very difficult in the immediate term to get anyone to discuss other kinds of EU reform. It would completely derail David Cameron’s current timeline for the negotiations and the eventual EU referendum. It’s not clear whether he would still be able to hold the referendum as scheduled, though rowing back on this would be hugely difficult domestically.
Relevant Posts
- Dullien, Sebastian, (2015), “Is the German elite miscalculating the fallout from Grexit?”, European Council on Foreign Relations, 7 May
- Gros, Daniel, (2015), “A market-based tax on capital flight as an alternative to Grexit”, CEPS Commentary, 7 May