UK Bookmaker Starts Taking Grexit Bets As Exit Very Likely

A U.K. bookmaker has stopped taking bets on Greece leaving the euro zone, saying it is increasingly likely that the country could “begin the process of departing” very shortly.

William Hill closed their book on whether Greece will leave the euro zone during 2015, and on which country would be first to leave the euro zone, the bookmaker said Wednesday evening.

“Greece had been heavily backed down to 1/5 to be the first to quit the euro zone, and we’d also been shortening the odds for Greece to leave during 2015. They’d come down from 5/1 to 3/1.’ William Hill spokesman Graham Sharpe said in a press release.

He added that “it is now looking increasingly likely that they could begin the process of departing very shortly.”

It comes as one analyst told CNBC Thursday that the country faced a “slow-death scenario”—including a default and messy exit from the euro zone—as the country’s economic crisis took another turn for the worse following a credit rating downgrade.

via CNBC

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