I don't see it triggering Grexit unless Greece itself decides to leave. The troika knows that Greece leaving will just give ammunition to UK Euroskeptics, and the UK leaving is actually feasible.

My own view is that austerity measures transformed a financial crisis into an economic one, and increasingly in the last two years into a humanitarian one. I kind of agree with Krugman that slashing pensions again isn't a real solution.

I am not an economist though!