The President of the Halle Institute for Economic Research (IWH) – Member of the Leibniz Association continues to see a chance for an agreement between the European Union (EU) and Greece. On the surface, Grexit looks now more likely than ever. But the resignation of Yanis Varoufakis, Minister of Finance, and the outcome of the referendum may also provide a chance for the Greek government to agree on reforms and save face. But the window of opportunity is closing very fast.