Greek crisis: Can the country legally quit the eurozone?

With the distinct possibility of anti-bailout parties gaining majority support in fresh Greek elections in June, terms like 'Grexit' and 'Drachmageddon' are now entering the lexicon of financial journalists. Unregulated default, with or without a eurozone exit, would clearly be catastrophic for Greece (and indeed its Cypriot neighbours), as well as raising wider dangers.

Eurozone leaders will put considerable effort into avoiding such eventualities - but a showdown is developing over whether compromise ...