Saxobank CIO Explains Why The Greek 'Problem' Won't Be Solved

"Even if a deal between Greece and its creditors is struck, the problem isn't solved," warns Saxobank CIO Steen Jakobsen, which leaves the door open to a snap election being called shortly and a referendum on continued membership of the EU just weeks later. Debt refinancing will be the first issue, with the country needing a significant discount. But how can the country secure that, asks Jakobsen, when the government is unwilling to bring in significant reforms?