Talks between Greece and private sector bondholders have collapsed, with the two parties failing to reach agreement over the country's debt restructuring.
We ask investment experts for their forecasts for 2012.
A Greek government spokesman has said the country will leave the single currency if it fails to secure a second, €130bn bailout deal by March.
The eurozone could start to break apart this year with countries including Italy and Greece potentially exiting the single currency, a leading think-tank has warned.
Madrid-based hedge fund Vega Asset Management has threatened to take legal action against officials negotiating Greece's debt restructuring if its bond losses turn out to be too deep.