From Fast FT: "The possible impact on US interest rate rises in the event of Greece crashing out of the euro is almost certainly not at the top of Alexis Tsipras's mind. Or even half way down it. But it is bugging the financial markets."
"Oxford Economics:On the global front, many participants expressed concerns that a 'failure of Greece and its official creditors to resolve their differences could result in disruptions in financial markets in the euro area, with possible spillover effects on the United States'."
"This is important since Greece now has less than 48 hours to come up with a set of proposals that could form the basis of a new ESM-financed bailout to be discussed at the EU summit on Sunday."
"Without such an agreement, The ECB would likely withdraw ELA over the weekend and effectively bankrupt Greek banks. This would in essence lead to a Greek exit from the Eurozone on Monday morning."
"The question would then become how contagious the exit would be. In a scenario of moderate contagion, we would see a rise in risk premia associated with European sovereign debt, particularly those in the periphery countries, but the ECB might intervene and pull forward some of its planned bond purchases. This short-term monetary injection would weaken the Euro and lift the value of the dollar, but it would insulate the Eurozone economy from a sharper contraction. In this outcome, we would expect financial stress transmitted to the global and US financial markets to be very moderate and contained. Thus, US corporate bonds spreads should not massively widen and equity prices should not plunge. This scenario would see the Fed delay its rate hike decision by a meeting or two."