Economic impact of Greek exit 'real but mitigated' says Standard Chartered
Standard Chartered Bank says the economic and market implications of an external shock from a Greek exit from the Euro bring back memories of 2009. However, parts of the Middle East and North Africa (MENA) region are in a significantly stronger position now. This is particularly true for the six GCC economies, which Standard Chartered expects to show resilience. Key weaknesses have been resolved – asset bubbles in the GCC have already burst, and unsustainable credit booms are long over.