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Citi: Greek Eurozone Exit Less Likely

Citigroup changed on Friday its view that Greece will almost certainly leave the euro, saying key eurozone players seem to have decided a Greek exit would do more harm than good.
The U.S. bank lowered its probability of a “Grexit” to 60% from 90% “mainly due to a change in the attitude of euro core members toward it”, it said in a note to investors.
“Politicians probably fear its negative effects on upcoming elections (in Germany) and a diminished economic resilience in the rest of Europe,” Citi added.
Greece is seen missing the debt and deficit targets set out under the 130-billion euro European Union/International Monetary Fund bailout it obtained earlier this year, fuelling talk the country might be forced to leave the eurozone.
(source: Reuters)

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