“A “no” vote means EMU [Economic Monetary Union] exit, most likely… We argue that an EMU exit would become the more likely scenario,” Barclays analysts said in a report.
“Agreeing on a program with the current Greek government would be extremely difficult for EA leaders, given the Greek rejection of the last deal offered. EA leaders accepting all Greek proposals would be a difficult sell at home, especially at the Bundestag or in Spain ahead of the general elections,” the report said.
“Can an exit be avoided? We believe the answer is potentially yes; we see two possibilities, even if both less likely than an exit. Europe and Greece could agree on a program on the IMF’s terms,” experts said in the report.
On Sunday, 61 percent of Greeks rejected the bailout plan in the referendum.