Will sidelining Varoufakis work?

Yanis Varoufakis, Greece's finance minister, has been sidelined from the country's negotiations with the rest of the eurozone, but will this lead to a deal? Alberto Gallo, head of macro credit research at RBS, discusses with economics correspondent Ferdinando Giugliano the likelihood of a compromise and the implications for the rest of the periphery if Greece misses a debt repayment.