"The reaction of the financial markets to the developments in Greece have been varied, but in the absence of an agreement in the short term, the risk of an upward adjustment of the yields on the debt of the vulnerable countries of the Eurozone could materialize". The warning was launched by the European Central Bank, in its report on financial stability (Financial Stability Review), thus urging Athens and the continental institutions to find an agreement, as quickly as possible, with Greece's international creditors.
Although the Greek premier Alexis Tsipras yesterday gave ample openings on an agreement in the short term, the ECB is not giving up: if the country does not sign an agreement in a really short time, there is therefore also the risk of worsening conditions within which other European countries can borrow from the Central Institute. "Greek default risk has grown significantly under the weight of political uncertainty", according to the Eurotower semi-annual report.
