Greece exiting the euro area would likely have contagion effects

Great days investors and forex traders, many Investors are getting increasingly worried about whether Greece will remain in the eurozone. And they should of course, its getting worsen, There are a series of upcoming events that could spell the end of a deal, put in place nearly three months ago, to restructure Greece's debt under strict terms dictated by the European Union, International Monetary Fund and European Central Bank, known as the troika.

Next week maybe worsen, "The threat from Greece remains real, and Greece exiting the euro area would likely have contagion effects that cannot easily be addressed in the current set-up," said Bank of America Merrill Lynch analysts in a note Monday. "The next weeks are crucial."

From Athens we reported, Greece has been struggling under a mountain of debt, as it tries to push through unpopular austerity measures and get its economy on solid footing. Without a cohesive government, that battle just got tougher.

So many drama were setting up, Here's what next in the Greek political drama, and what it could mean for the rest of Europe and the global economy. Where do things stand after last week's national elections? There is still no party that has been able to form a new government. The two parties from the previous ruling coalition that supported austerity and the debt deal, New Democracy and Pasok, only have 149 seats between them and 151 are needed.

So far, none of the other parties are willing to join them, given Greek voters' anger over the harsh austerity measures. So the scenario is... If Greek President Karolos Papoulias is not able to bring together a new ruling coalition by Thursday, he is expected to call for another round of voting, likely in mid-June.