Greek Drama a Regional Sideshow to JPMorgan as Euro Holds Gains

While it’s no longer “unthinkable” that Greece could leave the European Monetary Union, global markets have little cause for panic, according to JPMorgan Chase & Co.

“The risk scenario of Greek exit from the EMU is a drama for Greece, but in this analyst’s view, not for world markets,” Jan Loeys, chief market strategist at the bank, wrote in an investor note. “Claims on Greece are concentrated at the European Central Bank and EU institutions.”