Mohamed A. El-Erian

Mohamed El-Erian, chief economic adviser at Allianz SE, said on Tuesday the likelihood of an ?accident? involving Greece?s debts had increased to a 55-60 percent probability.

?I think the probability of an accident is now somewhat higher. I don?t think we can just muddle through forever on Greece,? El-Erian told cable television network CNBC.

By Mohamed A. El-Erian

It has been two years since Greece narrowly avoided an exit from the euro area that could have been disastrous for the country and extremely challenging for Europe and the global economy. Although the country has made a lot of progress since then, markets are far too sanguine about its rehabilitation.