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S&P says 1-in-3 chance of Greece euro-zone exit

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Monday it sees a one in three chance that Greece will exit the euro zone in the coming months after the country holds elections in mid June. An exit from the euro zone, however, would likely discourage other ailing sovereign states from following suit "having witnessed the resulting economic hardships and long delay in harnessing benefits from national currency devaluation," S&P said. A rejection by Greek voters to enact financial reforms demanded by the European Commission, International Monetary Fund, and European Central Bank would likely result in a cutoff of international aid and subsequent defaults, S&P said.