Greece 4/1 to Drop Euro as Paddy Power Declares Acropolis NowDara Doyle
Greece is 4-1 to drop the euro within four years, Paddy Power Plc, Ireland’s largest bookmaker, said, after Alexis Tsipras was sworn in as Greek prime minister.
Tsipras’s Syriza party and the Independent Greeks announced plans for an anti-austerity coalition in Athens on Monday after his party won power. Paddy Power offered odds of 7-1 for the European Commission to say that Greece has defaulted on its debt in 2015, meaning a successful 1-euro wager would return a 7-euro profit.
“Other countries suffering from the effects of austerity will be watching on with interest as the Syriza government lock horns with the EU,” Paddy Power said in an e-mail statement.
Tsipras has said he wants to keep the euro. At the same time, the 40-year old is seeking a writedown of Greek debt, and needs to persuade creditors from the European Central Bank, the International Monetary Fund and the European Commission to keep aid flowing.