Stephane Deo, chief European economist at UBS tells CNBC-TV18 that a Greece default will not have a huge impact on the positivity in global markets.
The market has had a good run of late, but Sridhar Sivaram, managing director at Morgan Stanley Investment Management, is still circumspect about whether the worst is over.
In an exclusive interview to CNBC-TV18, Alexander Wynaendts, the chairman of the board of Aegon says that a Greece default is already priced in by markets, but care should be taken to ensure that it is done in an orderly way.
The bears won hands down giving the week and October quite a bad start. But watch out for major developments throughout the week.
"Germany is like an insurance company that doesn’t want to pay after an accident," said Robert Johnson, ED, Institute for New Economic Thinking. When Germany joined Europe they were supportive of Europe but now are trying to get off the hook, he added.
Global policy makers have been debating prevention of a Greek default as the country's failure to service its debt would increase risks in financial markets and the banking system in particular, Russia's finance minister said late on Friday.
Greece promised further cuts to its bloated public sector on Tuesday before a second conference call with its international lenders, whom Athens must convince to extend more loans to avoid bankruptcy next month.
The rupee fell more than 1% on Monday on robust dollar buying by investors unconvinced about Europe's ability to solve its debt crisis and stave off a debt default by Greece, with losses in world equities also weighing.
The fallout from a Greek debt default can be contained if European leaders reached an agreement to let the restructuring take place in an orderly manner, former IMF chief economist Raghuram Rajan said on Wednesday.