Eurozone Will Survive Despite Greek Financial Crisis, CISI Survey Finds

Despite leading commentators across Europe warning that the future of the eurozone is at risk, nearly eight out of 10 (79%) financial services practitioners believe it will survive despite the strain of the Greek financial crisis, a survey by the Chartered Institute for Securities & Investment (CISI) shows.

Only 21% has the view that the situation in Greece will trigger the collapse of the union of 16 countries.

Comments from those taking part in the CISI survey included:

• “The threat of a potential domino effect within the eurozone should be sufficient for the group to come up with a workable solution, for the time being at least.”
• “The euro has always been a political project rather than a financially pragmatic one. For this reason its members will not allow it to collapse, even if this comes at a great cost.”
• “It will not collapse immediately because there is too much political capital invested in it. In the long term, Germany will probably not be interested in taking the steps to save it.”

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