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If it falls, Greece could be headed for default and exit from the euro.
But the risk of chaotic default and exit from the euro has receded.
Until recently, a Greek default and exit from the euro zone was seen as unthinkable.
"Policy makers have to recognize the impossibility of the trilemma of no additional funding, no restructuring of official loans, and no default and exit from the euro".
"A Greek default and exit from the euro zone would be devastating to Greece's economy, but no one else's," said Zandi.
Osborne told MPs: "Out in the real world there are some serious economic risks, not least the risk that we see growing in Greece of a potential default and exit from the euro.
Similar(25)
Argentina tried the deflation route to a real depreciation and, after three years of an ever-deepening recession/depression, it defaulted and exited its currency board peg.
Returning to national fiscal responsibility would lead to defaults and exits.
Greece is seeking a debt restructuring that would alleviate the burden of its massive financial obligations and release about $8 billion in previously agreed-upon bailout funds, in turn preventing a default and potential exit from the euro currency.
A third bailout or a bigger default and Greek exit from the euro will still be on the cards.
Views vary over whether Greece can avoid a default and eventual exit from the eurozone, termed the "Grexit".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com