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- Wolfango Piccoli, analyst at Eurasia Group
Greek leaders agreed to form a unity government with Lucas Papademos, a former deputy head of the European Central Bank, as a possible prime minister to ensure outside financing and prevent a breakdown of the nation's economy.
"These are 'baby steps' that are good on the surface, but cannot lead to a solution that avoids a default," said Bob Andres, chief investment officer at Merion Wealth Partners LLC. "I don't think it will have a material impact on the final solution."
"This is the best possible outcome," said Wolfango Piccoli, analyst at Eurasia Group. "However, the coalition government is likely to offer only a temporary relief as the political leaders will soon get into election mode."