Foster: Greece will default within three to six months

Artemis' James Foster expects Greece will exit the eurozone within six months - and possibly as soon as December - with Europe forced to act because the Greeks are unwilling to tackle the crisis.

The Greek debt market returned to the spotlight last week as RBS sent a note to clients warning the country would see a hard default in December, leading to “violent contagion” in the eurozone. Yields on Greek two-year and 10-year bonds reached fresh record highs amid renewed concerns over the country’s economic growth and bailout agreements, with two-year yields moving above the 50% mark while 10-year yields broke the 20% barrier for the first time. “If you had asked me a month ago I would have said Greece would probably be able to stay in the eurozone for a while. But the mood music...