IMF: Our basic scenario for Greece does not foresee a “Grexit”

The International Monetary Fund’s (IMF) basic scenario for Greece does not foresee a “Grexit” – a Greek exit from the Eurozone – Financial Counselor and Director of Monetary and Capital Markets Department of the IMF, Joss Vinals, said on Wednesday.

Speaking at a press conference to present the Global Financial Stability report, Vinals said an exit from the Euro would be devastating for the country and its people and would result in a huge economic cost. He said it would also have negative consequences on confidence in the Eurozone which he warned must not be underestimated.