William Hill re-opens Grexit market

greece

As Greece and the EU enter final debt crisis deadlock talks, William Hill has re-opened its market on whether the country will leave the Euro Zone by the end of 2015.

Entering a critical 24 hour period, Greece Prime Minister Alexis Tsipras has set out new proposals to try and prevent Greece’s default on a €1.6 billion IMF loan. Greece has been ordered to repay the loan by the end of June or risk its future bailout tranches.

Greek ministers have been in deadlock discussions with the European Central Bank, the European Commission and the IMF for the last five months regarding the June payment, the three stakeholders must agree on the deal terms of Greece’s debt re-structure.

Today PM Tsipras stated that Greece would reveal a new proposal on its debt repayment to the creditors this week which it believed would lead to progress.

Re-opening its ‘Grexit’ market William Hill are offering odds of 9/4 that Greece will leave the 19-nation EU bloc this year, implying a 31 percent chance. Odds of it staying in are 1-to-3, reflecting a 75 percent probability.

William Hill Communications Manager Graham Sharpe commented on the market

“There is such a high level of interest in the ‘Grexit’ that we have decided to re-open the market. People want to give us money, so we decided to re-open the book. The book-making spirit came out, and we decided to take a chance.”

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