An election too far ? Four scenarios for Greece after the elections

Abstract:

The results of the Greek elections on 17 June 2012 are of crucial importance for both the country itself and the eurozone. This Policy Brief outlines the possible post-election scenarios. It argues that an intelligent modification of the current adjustment programme is the best course of action. Other policy choices would likely have a worse outcome, as they would either underestimate the resentment of the current programme among Greeks or risk leading to the country’s exit from the eurozone.