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Fitch Ratings has published a report which notes the collapse of a threat to the eurozone, especially in case of Greece, its composition, which may cause the spread of infection in peripheral countries such E-17, such as Italy, Spain, Ireland, Portugal and Cyprus.
According to Fitch, the probability of this outcome is low, but risks still exist. If Greece will be forced to withdraw from membership in the euro area, or do so voluntarily, it will provoke an immediate downgrade of Italy, Spain, Ireland, Portugal and Cyprus.
On the other hand, the agency does not consider it likely option split the region into north and south. Nevertheless, it casts doubt on the feasibility of a single fiscal policy in the euro area.
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