Oliver’s Insights – Greece After The “No” Vote

In the most recent edition of “Oliver’s Insights”, Dr. Shane Oliver addresses the implications of the Greek referendum result, and its likely affect on global economies.

The key points of the article are as follows:

  • 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 Greek debacle derailing the European or global economic recoveries. So while the correction in shares looks like it might go further in the short term, the broad rising trend in markets is likely to continue.

See Dr. Shane Oliver’s full article, Greece After The No Vote, for full details.