Greece and the euro: What's next?

by Chris Isidore

CNN Money
May 14, 2012

Investors are getting increasingly worried about whether Greece will remain in the eurozone. And they should.

There are a series of upcoming events that could spell the end of a deal, put in place nearly three months ago, to restructure Greece's debt under strict terms dictated by the European Union, International Monetary Fund and European Central Bank, known as the troika.

"The threat from Greece remains real, and Greece exiting the euro area would likely have contagion effects that cannot easily be addressed in the current set-up," said Bank of America Merrill Lynch analysts in a note Monday. "The next weeks are crucial."

Greece has been struggling under a mountain of debt, as it tries to push through unpopular austerity measures and get its economy on solid footing. Without a cohesive government, that battle just got tougher.

Here's what next in the Greek political drama, and what it could mean for the rest of Europe and the global economy.

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