Greece’s process of moving towards fiscal and economic sustainability will likely have as big an impact as the outcome of whether it leaves the Eurozone or not, according to a new report.

Ahead of the weekend’s pivotal Greek elections, the global investment committee at Morgan Stanley Smith Barney has issued a report called “What Can We Expect from Greece?” It outlines in some detail how things got so bad and what major challenges lie ahead for both Greece, the rest of Europe, and investors worldwide. It reminds investors that even though the US has a very limited amount of trade with Greece, its trade and financial links with the European Union are significant. And despite Greece’s small size, its economy is important to the EU because it highlights where the union’s structural problems lie. Possible solutions could also serve as a blueprint for dealing with other problem countries including Portugal, Spain and Ireland.

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