Greek turmoil set to shake global markets out of complacency as sell-off looms

A Greek exit from the euro is now a “base case” scenario for economists and is set to trigger a flight to safety for nervy investors

Financial markets were braced for their worst period of turmoil since the height of the eurozone crisis three years ago, after Greeks chose to overwhelmingly reject the bail-out terms of their creditors, throwing the country on a collision course with the eurozone.

The prolonged period of uncertainty is expected to roil European equities and see investors flock to safe haven assets such as US and German government bonds.