Friday, 13 March 2015

Grexit Would Be 'Beginning of the End' for Europe, Warns EU Chief

Alexis Tsipras called on Germany to repay Nazi war debts
to Greece earlier this week
THE DAILY TELEGRAPH: Greek prime minister insists on solidarity after Pierre Moscovici says "catastrophe" could emerge from strained debt negotiations

A disorderly Greek exit from the eurozone would mark "beginning of the end" for the currency union and spark a dangerous domino effect of market contagion across the continent, according to the EU's top finance commissioner.

Seeking to soothe talk of an "accidental" Grexit, Pierre Moscovici said any move to eject Greece from the bloc "would be a catastrophe - for the Greek economy, but also for the eurozone as a whole."

"If one country leaves this (monetary) union, the markets will immediately ask which country is next, and that could be the beginning of the end," the former French finance minister told Der Spiegel magazine. » | Mehreen Khan | Friday, March 13, 2015