Alan Greenspan, the former chief of the US central bank from 1987 to 2006, predicted a Grexit for Greece. Speaking with the BBC, he said that he could not see who would be willing to put up more loans to bolster Greece’s struggling economy.

“I believe (Greece) will eventually leave. I don’t think it helps them or the rest of the eurozone – it is just a matter of time before everyone recognizes that parting is the best strategy,” he said. “The problem is that there there is no way that I can conceive of the euro of continuing, unless and until all of the members of eurozone become politically integrated – actually even just fiscally integrated won’t do it.”

The same article in the BBC points to Berlin’s unwillingness to alter the terms of the 240-billion-euro bailout agreement for Greece. Greenspan states that all the “cards” are held by members of the eurozone.

He said that there is a “strain” on the 19-nation eurozone member states to stay together and pointed to the risk of a “much bigger break-up” that could include other southern European countries being forced out.