(Reuters) - A Greek exit from the euro zone would be less financially risky for the remaining members than it would have been during the last scare in 2012, Standard & Poor’s said in a report, citing a more robust euro zone rescue architecture.
Since 2012, policymakers have introduced the European Stability Mechanism, which can financially support euro zone sovereigns under market pressure following a “Grexit”, the ratings agency said on Thursday.
Greece’s links with financial markets have been sufficiently reduced to make a limited direct contagion less likely, Standard & Poor’s credit analyst Moritz Kraemer said in the report.
The financial burden of an exit on the remaining 18 euro zone sovereigns would be moderate and absorbed over decades, Kraemer said.
Reporting By Kanika Sikka in Bengaluru; Editing by Ted Kerr