Fitch: Disorderly ‘Grexit’ could prompt non-PIIGS downgrades
Fitch has warned that insurers in non-peripheral Eurozone countries could face downgrades if a potential Greek exit from the euro was handled badly.
The ratings agency said that its base assumption is that the Eurozone will "muddle through," however it painted a worrying picture of the consequences of a botched exit.
Fitch described a disorderly exit as one where there was "an ineffective policy response" and material contagion to non-peripheral countries including bank runs, capital flight and rising bond yields...
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