Greece Will Hurt Europe, No Matter What

The economic crisis in Greece is far from over, and as it plays out it will have political and economic ramifications across Europe. The most Athens and its lenders can hope for at present is a temporary agreement to prevent a Greek default and buy time to continue negotiations, but the possibility of Greece exiting from the eurozone remains. And while a default and a "Grexit" would impact global markets and European politics most drastically, drawn out negotiations will themselves also erode confidence in the viability of the European Union.